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Economy
Economy UAE
Saturday, September 26, 2026

Manchester City Yas Residences Breaks Ground in Abu Dhabi

Overview:

UAE equity indices ended the week with modest performance as property and financial stocks provided support, while profit-taking limited broader gains. Separate developments included a major mixed-use residential project launch in Abu Dhabi, chamber initiatives across northern emirates, and advancing international partnerships in industrial capacity development. Currency markets and commodity sectors continue to track global sentiment amid shifting monetary policy expectations.

Details:

The Abu Dhabi Securities Exchange index rose 0.69 percent to close at 10,200.73 points, while the Dubai Financial Market gained 0.39 percent to finish at 5,980.27 points. Real estate and banking equities led the advance, with selective buying activity concentrated in blue-chip holdings. Among movers, Dubai Islamic Insurance and Reinsurance Company (Aman) advanced 21.50 percent, and Al-Reem Corporation rose 17.45 percent, though the gains were not tied to disclosed material announcements. Aman stated separately that no material corporate or operational developments or undisclosed information justified the stock price movement.

Property transactions remained robust, with Dubai real estate transfers reaching 11.3 billion dirhams across 3,500 transactions during the reporting week, including 6.41 billion dirhams in sales. The flagship Manchester City Yas Residences development by Ohana Real Estate commenced construction with a 15 billion dirham budget. Abu Dhabi Chamber of Commerce presented business support programs during the Al Ain Future Business Forum 2026, while Ajman Chamber explored wealth management partnerships with international specialized firms. The eighth Future Food Industries Forum is scheduled to launch September 29–30 in Dubai under Tourism Ministry sponsorship. Capital Intelligence affirmed Sharjah Bank's long-term foreign currency rating at BBB+ with a stable outlook.

Global equity markets gained support from declining oil prices and selective monetary commentary, while cryptocurrency and fixed-income sectors absorbed volatility from rising US Treasury yields.

Outlook:

Investors are monitoring corporate dividend seasons and upcoming earnings reports as second-half capital deployments shape trading momentum. Attention remains on central bank communications and international economic data as investors assess global interest rate trajectories and their impact on regional asset valuations.

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