With a year-to-date advance of 9.93 percent, the Qatari bourse is the best performing market in the six countries of the Gulf Cooperation Council (GCC), as the QE Index in Doha climbed 0.22 percent to reach 7,647.32 points Tuesday.
Banks in particular were demanded in the third largest gas exporting country of the world. Qatar Islamic Bank gained half a percent to close at 81.4 Qatari riyals (22.36 U.S. dollars).
On the contrary, the Dubai market DFM traded 6.29 percent below the level from the start of 2010. The DFM General Index ended 0.53 percent lower at 1,690.19 points. Emaar Properties closed off 0.29 percent at 3.77 dirhams (1.03 dollar).
After the closing, real estate contractor Drake and Scull International (DSI), which closed down 0.97 percent at 0.92 dirham (0.25 dollar), announced that it has been awarded a major Mechanical, Plumbing and Engineering (MEP) project worth 85 million dirhams (23.16 million dollars) for the Rotana Gardenia Hotel and Furnished Apartments in the city of Homs, Syria.
“We are extremely proud of our project won in Syria, a country boasting a promising market — one that offers many potentially lucrative opportunities, particularly in the construction industry, ” DSI CEO Khaldoun Tabari said.