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Wednesday, 14 December 2016

Builder of World’s Tallest Tower Seen Buoyed in 2017 by Oil Recovery - Bloomberg

Builder of World’s Tallest Tower Seen Buoyed in 2017 by Oil Recovery - Bloomberg:

"The rally in one of emerging-markets’ best performing real estate stocks this month will probably extend into 2017.

Emaar Properties PJSC, the builder of the world’s tallest tower in Dubai, will likely gain next year as the emirate’s economy absorbs the effects of higher oil prices after major global producers agreed to cut output, said Marwan Shurrab, a fund manager and head of trading at Dubai-based Vision Investments & Holdings.

Having started this year on a $1 billion skyscraper in Dubai that will be even taller than Burj Khalifa, Emaar is a good choice for investors seeking exposure to the sheikhdom’s markets, he said. The developer, which is 30 percent owned by the Dubai government, rose on Monday to the highest level in 16 months."



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