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Gulf Stocks: Emaar Properties and Saudi Real Estate

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May 8 (Bloomberg) -- Dubai’s DFM General Index declined 1 percent to the lowest since April 12. Abu Dhabi’s ADX General Index dropped 0.4 percent, while Saudi Arabia’s Tadawul All Share Index increased 0.3 percent at 2:02 p.m. in Riyadh.

The following stocks rose or fell in the Persian Gulf region. Symbols are in parentheses.

Emaar Properties PJSC (EMAAR UH) fell to the lowest level since March, losing 1.6 percent to 3.14 dirhams. The builder of the world’s tallest tower in Dubai formed a team of senior managers and external consultants to develop a five-year action plan for the company.

Saudi Real Estate Co. (SRECO AB) increased a second day, rising 1.3 percent to 23.5 riyals. The Riyadh-based property developer said its board approved awarding a contract valued at 24.1 million riyals ($6.4 million) to a local contracting company.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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