GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap4,040 1.47
Med Cap3,813 1.12
Small Cap4,857 0.75
Micro Cap8,140 0.78

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Ticker Price Volume
QNBK 127 470,450
ETISALAT 17.15 1,265,926
GFH 0.6
EMIRATESNBD 8 953,900
DAMAC 3.04 4,480,836
DSI 0.38 56,023,969
MMG 0

Real Estate Activity

Source: NBK Capital

Real estate sales enjoy strong end to poor 2009. Transactions approach pre-crisis levels

Sales overview
Real estate sales reached their highest level in 17 months in December, signaling a return in activity to pre-crisis levels. The total number of sales transactions (residential, commercial and retail) stood at 582, close to the monthly average of 590 recorded between 2003 and 2006 and what might be considered as ‘normal’ levels – though still far from the 800+ levels seen during the boom years.

This month, however, there was a divergence between the performances of the different market segments, with high numbers of residential transactions more than offsetting a dip in the investment and commercial segments. This – combined with the possibility that residential activity witnessed a spike in private land sales in December (see below) – argues for a degree of caution against over-estimating the pace of improvement.

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