Saudi Stocks Are the Most Expensive Versus Dubai in 7 Years - Bloomberg:
The valuation gap between stocks in Saudi Arabia and Dubai has expanded to the widest since 2011.
Saudi shares have traded at a premium compared to those in Dubai most part of the time in the past seven years, but the gap has widened in 2018 as bets that the kingdom would be included in emerging-market benchmarks by MSCI Inc. and FTSE Russell fueled a rally, pushing valuations higher. In Dubai, which is already part of those indexes, concerns tied to the emirate’s real estate market have been weighing on stocks.
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