Stocks Set to Win in U.A.E. Ownership Shake-Up: Street Wrap - Bloomberg

Stocks Set to Win in U.A.E. Ownership Shake-Up: Street Wrap - Bloomberg: " Stocks in the U.A.E., especially the real estate sector, could get a boost from government plans to allow full foreign ownership in companies as it seeks to attract investments.

Allowing non-Emiratis to own 100 percent of businesses and granting long-term visas to some investors could support property companies such as Emaar Properties PJSC, analysts, strategists and investors said. The decision could trigger a return by investors to Dubai equities, whose index entered a bear market earlier this month amid faltering prospects for the real-estate industry, one of the main pillars of its economy.

The DFM General Index finished 1 percent higher on Monday, trimming its loss this year to 13 percent. Emaar Properties, Damac Properties Dubai PJSC and Dubai Investments PJSC contributed the most to the index’s advance. In Abu Dhabi, the ADX General Index rose 0.7 percent, interrupting its longest losing streak since February and extending its gain in 2018 to 1.4 percent."



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