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Deyaar Development’s stock rises 2.30% Thursday

Deyaar Development’s stock rises 2.30% Thursday
Deyaar’s stock rose on the back of CEO Saeed Mohammed Al Qatami’s expectations to generate higher net profits
Deyaar
DEYAAR
-0.74% 0.81 -0.01

Dubai – Mubasher: Deyaar Development’s stock on Thursday topped the Dubai Financial Market's (DFM) trading activities.

By 12:15 pm, UAE time, the stock rose 2.30% to AED 0.445 after 24.74 million shares were exchanged through 199 transactions, generating a turnover of AED 11.05 million, according to the DFM’s data.

Deyaar’s stock rose on the back of CEO Saeed Mohammed Al Qatami’s expectations to generate higher net profits by the end of 2018.

In the meantime, the DFM benchmark index inched down 0.03% to 4,999.87 points.

Earlier on Thursday, the Emirati real estate developer signed a contract with Millennium Hotels & Resorts Middle East and Africa (MEA) to announce that Millennium Atria Business Bay will be open for guests by the end of this year.

The two firms inked the agreement on the sidelines of Cityscape Global 2018, kicked off on Tuesday at the Dubai World Trade Centre (DWTC).