Dubai Property Glut on Show in Worst Week for Stocks Since 2016
- Index tracking the sector declined about 7% last week
- Emaar Development retreated to lowest level on record
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Dubai stocks are giving investors an update on the woes confronting the local real-estate industry.
The DFM Real Estate & Construction Index fell about 7 percent last week, the biggest weekly drop since May 2016. All but one of its members were down by at least 2 percent, compared with an overall 0.1 percent retreat in an emerging-market gauge for the sector.