Dubai’s Damac Properties to be added to MSCI’s UAE index

17/05/2017 Argaam

US-based index provider MSCI on Monday said it will include Dubai-based Damac Properties to its United Arab Emirates (UAE) Index on June 1.

 

The inclusion is part of MSCI’s semi-annual market reclassification.

 

The Dubai-listed developer, which recently disclosed its financial reports for the first quarter of 2017, saw its stock climb 4 percent yesterday following the MSCI update.

 

Meanwhile, Dubai's Gulf General Investment Co. (GGICO) will be deleted from MSCI's small-cap index and Qatar-based Gulf Warehousing will be added.

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