Dubai's a Bargain, at Least to Stock Pickers With Time

After Dubai’s benchmark stock index lost almost half its value in the past five years, it’s beginning to attract investors on the lookout for bargains.

Hobbled by a lackluster economy and languishing in the shadow of its Gulf Arab neighbors, the emirate’s stocks have dropped in three of the last four years. The main gauge peaked in 2014, when MSCI Inc. officially included the United Arab Emirates -- of which Dubai is a part -- in the emerging-markets category.