Deyaar Jumps to 16-Month High on Bets Stock Cheap: Dubai Mover
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Deyaar Development PJSC, a builder of homes and commercial towers in Dubai, climbed to the highest level in more than 16 months as investors sought cheap valuations amid a recovery in property prices in the emirate.
The stock rose 4.9 percent to 44.8 fils at the close in Dubai, the highest since March 2012. About 117 million shares traded, or 4.7 times the three-month average. Deyaar was the most-traded stock on the Bloomberg GCC 200 Index and the biggest gainer on Dubai’s benchmark gauge, which fell 0.6 percent.