Dubai stocks excel in the global markets

30/01/2013 - Dubai Property News Posted by Neil King
Dubai stocks excel in the global markets

The impressive recovery of Dubai's real estate sector in 2012 has led to a deluge of bets from stock exchange traders across the globe.Bloomberg has confirmed that Dubai stocks advanced the most in the world yesterday (January 29th), as investors grew increasingly confident that the city's main construction contractors will have a very profitable year.If 2012 was anything to go by, it seems these market speculators are on to a winner.The Dubai Land Department recently confirmed that AED 154 billion worth of real estate was purchased in the emirate last year, which was an eight per cent improvement on 2011.In addition to this, a lot of building firms announced some radical plans for the coming years, some of which had been shelved during the global economic downturn.This highlights just how much confidence is coursing through the veins of Dubai property investors at the moment.Bloomberg also reported that Dubai's economy expanded by five per cent last year - its best performance since 2007.The news provider confirmed that 240 million shares traded in Dubai yesterday, which was way higher than the 12-month daily average of 182 million.Dubai-based Waleed Al Khateeb, senior finance manager at Daman Securities, was quoted as saying that long-term investors have returned to the Gulf on the back of last year's strong economic growth and rise in earning fundamentals."Sentiment for the real estate sector is strong and investors expect the recovery to continue this year as new projects are announced and the worst is behind us," he remarked.With the global economy still decidedly shaky because of events in the eurozone and North Africa, many investors have adopted a more cautious approach when looking for new assets.However, this does not appear to be the case in Dubai, as most market experts have predicted a continued rise in property prices in 2013, making the emirate a safe haven for traders.Indeed, the Khaleej Times reported in December that the United Arab Bank predicted high-end properties will be in particularly high demand in the next two years.The First Group will help you find suitable properties in Dubai