MIDEAST STOCKS-Dubai's Emaar surges on DWC deal; Egypt recovers to pre-revolution levels | Reuters:
"Dubai's Emaar Properties surged to a 63-month high on Thursday after the developer announced a joint-venture project near the emirate's 2020 World Expo site, while Cairo's bourse rallied to pre-revolution levels.
Emaar's project with Dubai World Central (DWC) includes hotels, malls and golf course communities.
"Emaar will benefit overall from the kind of projects being built around the Dubai real estate recovery as well as the World Expo 2020 - today's announcement is an example," said Ali Adou, portfolio manager at The National Investor. "The only real quality real estate name is Emaar in terms of financials."
Shares in Emaar surged 5.1 percent, the biggest one-day move in three months to hit their highest level since September 2008."
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