Dubai stocks offer value, experts says

18/04/2011 - Dubai Investment News Posted by Neil King
Dubai stocks offer value, experts says

Dubai banking, property and services shares offer buying opportunities as the emirate's benchmark index enters a bull market, according to Mark Mobius of Templeton Asset Management Ltd.This assertion comes after the shares rebounded more than 20 per cent from a six-year low, Bloomberg.com reports.Indeed, the Dubai Financial Market General Index increased 1.6 per cent yesterday (April 17th) to close at 1,648.44, bringing the surge from the low on March 3rd to 22 per cent."It's possible that we are entering another up phase," remarked Mobius, who said he oversees about $54 billion worth of investments.He added: "In some ways Dubai and Abu Dhabi could be the beneficiary of what's happening in the rest of the region."In other news, transport officials in the UAE have called for greater investment to be made to public transport systems, not just within the UAE but worldwide.At the UITP Congress in Dubai, which attracted over 2,000 delegates from transport professions in 85 countries and 9,700 visitors, it was announced that $40 billion would be invested in UEA public transport by 2025.