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Dubai’s main equity benchmark advanced in early trading this week as real estate and hospitality names outpaced the broader market, with dealers pointing to renewed appetite for property-linked shares after a quiet start to the summer trading season.
Developers Set the Pace
Shares of Meridian Property Holdings, a fictional composite representative of the emirate’s listed developers, were among the session’s strongest gainers, building on a run of firmer off-plan sales data reported earlier in the month. Traders said the move reflected optimism that residential demand in Dubai remains resilient even as global borrowing costs stay elevated, with several brokerages noting healthier absorption rates in newer master-planned communities.
Hospitality and tourism-linked counters also firmed, buoyed by expectations of a steady rebound in visitor numbers heading into the final quarter of the year.
Broader Market Backdrop
Trading volumes across the exchange picked up modestly compared with the prior week, though turnover remained below levels seen earlier in the year. The dirham’s peg to the US dollar continued to anchor currency-related considerations for investors, while regional oil price movements offered a secondary point of reference for sentiment toward Gulf equities more broadly. Analysts cautioned that gains could prove uneven in the near term, given ongoing sensitivity to global interest-rate expectations and shifting flows into emerging and frontier markets.
