Dubai-Mubasher: Emaar Properties’ stock topped gainers in mid-session on Sunday, following news that it will develop a new tower in the Dubai Creek area “as great as Burj Khalif.”

The stock accounted for over one third of the market’s trading after generating AED 83.63 million, with trading volume of 15.2 million shares.

The company’s profits, cash dividends and new tower announcements sent the stock to touch a 16-session high by 12:30am, according to an analyst at Masaken Capital.

Emaar’s stock gained more than AED 1 in the last three sessions, but the saw a correction movement and reached AED 5.30, said technical analyst Muhannad Erekat.

Erekat added that the stock targets to reach AED 5.88.

The real estate sector lost 0.61% or 32.21 points during the trading session.