Arabtec Holding ended 5.4 percent higher after saying it had been short-listed for three projects in Abu Dhabi worth in total more than AED4.5bn.
The stock lifted the Dubai index up 1.3 percent to 1,655 points, its third straight rise.
Arabtec’s news helped lift property stocks, with Union Properties and Emaar Properties adding 5.5 percent and two percent respectively.
The Abu Dhabi benchmark closed higher for a fifth trading day in six, climbing 0.5 percent to 2,591 points.
Volumes hit a 13-session high as property stock dominated trading.
Aldar Properties rose 5.4 percent and Sorouh Real Estate added 2.6 percent.
Trading volumes in Saudi Basic Industries Corp (SABIC) hit a two-year high as the stock made further gains, helping the Saudi index close slightly higher.
SABIC climbed 1.7 percent, taking its rise to 42 percent since April 21.
The benchmark edged up 0.03 percent to 5,802 points, its ninth rise in 11 sessions.
Al Rajhi Bank added 0.7 percent.
Saudi Telecom Co rose 1.7 percent to claw back most of its losses this month and Samba Financial Group moved up 1.3 percent.
Industries Qatar ended five percent higher, its largest one-day gain for nearly three weeks, lifting the Doha index.
The benchmark climbed 1.9 percent to 6,142 points, a new 16-week high.
Barwa Real Estate continued to surge, rising 5.9 percent and Qatar Islamic Bank added 2.6 percent as gainers outnumber losers 16 to three.
Trading volumes are the highest for at least 11 months as 38.6 million shares change hands.
“There is rising foreign interest in Qatar stocks,” said Haissam Arabi, chief executive and fund manager at Gulfmena Alternative Investments.
Kuwait’s measure advanced for a sixth trading day, climbing 0.4 percent to 7,728 points, its highest close of 2009.
Trading hits a two-year high.
Ahli United Bank was the standout gainer, rising 5.6 percent. Three of the four largest stocks end unchanged.
The Bahrain index fell for a second day, dropping 0.5 percent to 1,589 points.
Oman’s index ended higher for the fifth session in six as market leader Oman Telecommunications (Omantel) surged 4.4 percent.
The benchmark climbed 1.5 percent to 5,331 points as the other blue-chips rise.
Bank Muscat and National Bank of Oman both added more than four percent, with the market’s trading volumes hitting a four-session high.
“There was very strong buying from local, Gulf and foreign institutions in Bank Muscat and Omantel,” said Adel Nasr, United Securities brokerage manager.
“These two companies have big interests in Pakistan and so the improving situation in Pakistan prompted investors to buy these stocks,” he said. (Reuters)
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