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14/06/2009 00:00 AST
Emaar Properties PJSC, the United Arab Emirates' largest real-estate company, had its price estimate raised 7.2 percent at Al Mal Capital PSC, which cited the winning of a contract to build the world's tallest tower.
Kingdom Holding Co. yesterday picked Emaar to build Kingdom Tower in a 100 billion-riyal ($26.6 billion) real- estate project in the western city of Jeddah, Saudi Arabia.
"This announcement underscores Emaar's position as the preeminent Middle East developer," Al Mal analyst Bobby Sarkar said in a note to clients today. Al Mal raised the share-price estimate to 4.44 dirhams from 4.14 dirhams.
Emaar rose 5.4 percent to 4.11 dirhams at 10:28 a.m. in Dubai.
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Ticker | Price | Volume |
---|
Ticker | Price | Change |
---|---|---|
AMR | 2.16 | -0.01 (-0.47 |
ADNH | 0.52 | 0.00 (0.00 |
ADAVIATION | 5.46 | 0.03 (0.55 |
IFAHR | 1,469.00 | -3.00 (-0.21 |
JAZEERA | 1,480.00 | 20.00 (1.36 |
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