Trading was concentrated on two property-related stocks on the Dubai Financial Market yesterday as the markets hit the doldrums ahead of the summer holidays.
"Its lacklustre trading," said Saleem Khokhar, a fund manager at National Bank of Abu Dhabi. "There is no overriding sentiment at the moment, with a little bit of profit taking going into the summer."
Emaar Properties, the developer behind the Burj Khalifa, declined 1.5 per cent after it said revenue from apartment sales fell 81 per cent and villa sales lost 50 per cent in the first quarter amid weak property demand.
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