Property stocks dipped yesterday as institutional investors exited their positions before the year's end.
Aldar Properties, developer of the Yas Marina Circuit and Ferrari World, suffered the strongest selling pressure on the Abu Dhabi Securities Exchange. Its shares declined 2.1 per cent to Dh2.30 in the absence of positive catalysts to maintain the current price, said Ameed Kanaan, the general manager at Al Jazira Financial Services in Dubai.
"Its very normal," said Mr Kanaan. "There is no liquidity in the stock market, and institutional investors are exiting smoothly step by step ahead of the year's end."
Because of thin volumes, prices decline sharply when larger blocks of shares are sold, he said.
Other property stocks also fell. Sorouh Real Estate, Abu Dhabi's second-biggest developer, closed 1.7 per cent lower at Dh1.67, while RAK Properties declined 2.1 per cent to 46 fils. Arabtec Holding, Dubai's biggest listed contractor, fell 1 per cent to Dh1.95. Emaar Properties dipped 0.2 per cent to Dh3.59 a share. Dubai Financial Market Company, the Arab world's only publicly listed stock exchange, declined 1.3 per cent to Dh1.52.
Elsewhere in the region, Kuwait's measure remained unchanged at 6,788.30, Bahrain's index added 0.2 per cent to 1,427.14 and Oman's measure lost 0.1 per cent to 6,650.73. Qatar's index gained 0.8 per cent to 8,816.38 and the Saudi Tadawul All-Share Index rose 0.1 per cent to 6,517.46.
halsayegh@thenational.ae
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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