Mubasher: MubasherTrade Research has maintained its price target (PT) for Emaar Malls at AED 2.79, and upgraded its investment rating from "Sell/Low Risk" to "Hold/Low Risk", according to a report issued Monday.

Emaar Malls is currently expanding its footprint with next-generation malls in Dubai Creek Harbor and Dubai Hills Estate, which are not included in this valuation, the report indicated

Moreover, the Dubai Mall's Fashion Avenue is being expanded with more than 150 international brands to be added, with other community mall projects being planned, as well as another retail addition.

“We believe continued expansions will act as a growth catalyst,” the report stated.