Dubai’s stock market DFM hits an eight-year high, lifted by a real estate boom

Dubai’s stock market DFM hits an eight-year high, lifted by a real estate boom

Buoyed by a surge in real estate activity, the Dubai Financial Market has reached its highest point in nearly eight years and extended year-to-date gains to nearly 25percent.

The city-state’s bourse peaked at 4,022 on Tuesday before pulling back to 3,986 on Thursday. It's trading at the highest levels since August 2015.For the latest headlines, follow our Google News channel online or via the app.

This year the Dubai Financial Market has outperformed the S&P 500, which is up nearly 20 percent, and the MSCI All Country World Index, a benchmark for global equities, which is up 16 percent.