Emaar Properties PJSC (EMAAR) rose to the highest level in more than three years after a report that units made available at a new Dubai residential development sold out in one day, supporting the developer’s profit outlook.
Emaar, developer of the world’s tallest skyscraper, said last week it started a new luxury hotel project in Downtown Dubai amid increasing demand for high-end properties. The Address Residence Fountain Views, which will comprise 280 apartments, sold all units made available at a first offering yesterday, Khaleej Times reported, citing unidentified people.
http://www.bloomberg.com/news/2013-01-27/emaar-rises-to-3-year-high-on-property-sales-report-dubai-mover.html
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