Economy / United Arab Emirates
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Real Estate Takes Brunt Of Equity Losses
October 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Along with just about every other market worldwide, UAE stocks are in freefall. Since re-opening on October 5 following the Eid holiday, both the Dubai Financial Markets General Index (DFMGI) and the Abu Dhabi Securities Market (ADSM) have plummeted, intensifying the sell-off that has been in play since early August. The DFMGI is now back at Q105 levels, having wiped out all the gains made during the recovery from the market's last crash back in 2006/07.