MIDEAST STOCKS-Real estate weighs on Dubai, major Gulf markets down | Reuters:
Dubai's stock market fell sharply on Sunday dragged down by property stocks, as other major Gulf bourses also saw losses.
In Dubai, the index dropped 1.1 percent. The emirate’s largest listed developer, Emaar Properties, slid 3.3 percent, Emaar Malls dropped 4.5 percent, and DAMAC properties fell 2.3 percent.
Dubai’s weak real estate market has been a big drag for property shares this year. Prices have been falling quarter-on-quarter almost continually since the start of 2017, with analysts blaming a glut of properties on the market.
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