Dubai Leads Losses as Golf Market Drops

Christopher Zenios13/09/20192min
In recent days the majority of Golf Markets fell, pulled down by financial shares, with Dubai underperforming in the stock market in comparison to regional peers following a four-day winning streak broken by top lender Emirates NBD.

Reports from Saudi Arabia confirmed the index reversed course as financial stocks fell back into negative territory with both Samba Financial Group and Saudi British bank falling 2.4%

The difference in gains from earlier on in the year can be clearly seen as in May 2019 gains stood at 20% thus outperforming the majority of regional markets.
Due to this, the gain for this year has been estimated at a lower 2.9% as fears of the current US-China trade war and other economical factors create weary investors. With the Middle East funds reducing investment in Saudi Arabi according to recent a Reuters poll.

Real Estate in Dubai

The effect of the decrease has lead experts to believe that housing prices will drop drastically as the economy slows and an oversupply of housing is seen.

Despite this, a residential project on the Saadiyat Island is set to be developed and will be open to all nationalities. This will be the first development on Saadiyat Island since a new law that enables foreign buyers to have ownership over freehold land in investment zones in Abu Dhabi has been put in place.

Due to this, properties continue to be developed, recently property developer in Dubai, Damac, delivered 727 luxury homes in a high riser.

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at [email protected] for editorial related questions.

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