Property stocks drag Dubai down; Qatar large-caps fall - ArabianBusiness.com

Dubai's property stocks dragged down the index despite news from developer Nakheel on a sukuk issue that was expected to lift investor sentiment.

Dubai's Nakheel will issue the first tranche of a AED4.8bn ($1.31bn) Islamic bond to trade creditors on Thursday, its chairman said, as part of a complex debt restructuring underway since 2009.

Contractor Arabtec , one of Nakheel's trade creditors, weighed on the index with a 1.5 percent fall and Emaar Properties slipped 0.4 percent.

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