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Emaar share amasses 71% of DFM foreign investments

Emaar share amasses 71% of DFM foreign investments
Drake & Scull
DSI
-2.63% 0.37 -0.01
DIB
DIB
-0.34% 5.82 -0.02
Air Arabia
AIRARABIA
0.00% 2.77 0.00

Emaar
EMAAR
0.98% 8.23 0.08
DFM
DFM
-0.68% 1.47 -0.01
Foreign non-Arab ownership volume leaped for five major companies listed on the Dubai Financial Market (DFM) to around 3.46 billion shares of these companies’ total capital at a market value of nearly AED 19.99 billion, according to these companies’ closing prices on Thursday, compared to 2.2 billion shares from total capital and AED 2.83 billion according to the said companies’ closing prices during the last trading session of July 2011.

Within three years, the rise in ownership of the five companies with the highest trade in terms of value and volume namely: Emaar, Drake and Scull, Dubai Islamic Bank (DIB), Air Arabia, and Dubai Financial Market (DFM) reached 1.26 billion shares, recording a growth of 57.27%, an analysis by Al Bayan newspaper revealed, adding that the rise in market value of foreign ownership for the said companies reached AED 17.16 billion, hitting a record growth of 606.36% within three years.

Financial analysts said that this leap in foreign ownership of the DFM’s leading five companies reflects the continuity of flowing foreign investments in the local stock markets, which has accordingly revived the market and given a strong indication of the added confidence in these local markets.

Emaar Share

According to the analysis by Al Bayan newspaper, the largest foreign ownership amongst the five leading companies at the end of last week was for Emaar Company with 20.95% or 1.5 billion shares with market value of AED 14.28 billion.

Emaar’s share amassed around 71.44% of total foreign investments amongst the five companies, with Gulf investors accounting for 9.23%, and Arab investors for 2.37%.

It is worth noting that three years ago Gulf investors accounted for 4.73%, while Arab investors accounted for 6.01%.