Dubai’s biggest developer is struggling to win over investors

Investors aren’t impressed with Dubai’s biggest developer. Shares of Emaar Properties PJSC, which developed the Burj Khalifa skyscraper, have plunged 39 percent this year, Bloomberg reported. It’s price-to-earnings ratio is at the lowest level since 2009. That’s thanks to a difficult local real estate market — as a supply glut coincides with lower demand. And a recovery doesn’t seem imminent, the report said. Emaar had the lowest quarterly profit in almost three years in the […]


Source: Real Estate

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