By: Mahmoud Gamal

Dubai – Mubasher: Emaar Properties’ stock rose on Thursday, backed by news of relaunching the tender for Project Star, an analyst told Mubasher.

In collaboration with Dubai World Trade Center (DWTC), the company will offer the project in a tender, sources told Meed magazine.  

Emaar went up 0.7% to AED 7.25 by 1:15 pm UAE time, generating AED 15.76 million from the exchange of 2.17 million shares.

The stock is seeing speculations to make use of the new positive news, Mahmoud Abou Zeid told Mubasher.

The stock saw strong purchases that enabled it to reach between AED 7.5 and AED 8, technical analyst Mohamed Al Mahdi told Mubasher.

Translated by: Julian Nabil