Dubai Property Firms Rise From Ashes - WSJ - WSJ:
"Five years after collapsing, Dubai’s strengthening real-estate industry is getting a vote of confidence from investors in the emirate’s stock market.
In September, Dubai’s flagship developer Emaar Properties spun off its malls business in a $1.6 billion initial public offering that enjoyed strong demand from investors. The IPO of Emaar Malls—whose main asset is Dubai Mall, one of the largest shopping centers in the world—marked the biggest share sale in the United Arab Emirates since 2007.
Shares of the company are trading about 10% above their offering price. Dubai’s benchmark index has fallen roughly 7% since Oct. 2, the day Emaar Malls started trading."
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