Page 19 - UNION PROPERTIES GENERAL REPORT - JANUARY 2025

Dubai equities gain the most in region in 2024

Benchmark index gains 27.1% for the year

Published: Sun 5 Jan 2025, 7:18 PM

• By

• Somshankar Bandyopadhyay

The Dubai Financial Market General Index closed 2024 at 5,158.7 points. — AFP file

The success of Dubai’s economic diversification programme has once again come to the fore, as
the city’s benchmark index surged 27.1 per cent during the past year, a report showed.
According to data from Kamco Invest, Dubai was the best performing market in the GCC for the
second consecutive year, with the Dubai Financial Market General Index closing 2024 at 5,158.7
points. “This was the biggest gain in the index in the last three years and the fourth consecutive year
of gain,” the report, authored by Junaid Ansari, Kamco’s head of investment strategy and research,
Mohamed Ali Omar, associate and Vineetha K. Yeluri, analyst, said.

Eight out of the nine sectors in the exchange eight witnessed growth during 2024. Unsurprisingly,
the real estate index witnessed the biggest increase during the year recording a 63.1 per cent
growth to close the year at 11,948.82 points, followed by the communication and materials sectors,

https://www.khaleejtimes.com/business/markets/dubai-equities-gain-the-most-in-region-in-2024