Industry analysts are hoping that Emaar properties will demonstrate more transparency regarding its imminent buyback plan in the hopes that the UAE's market will be uplifted as a result.
One Emaar source speaking on condition of anonymity commented on complications regarding the plan, saying, "There are internal differences regarding the buy-back application," according to Khaleej Times.
However, another company spokesman implied optimism regarding the plan, stating, "Emaar is still in discussions with Emirates Securities and Commodities Authority (Esca) and things are moving foreword."
All sectors recorded losses on Monday in the Dubai Financial Market, with the investment sector leading the way with a loss of 1.6 percent of the sub-index's value. The services and banking sectors also reported losses, with decreases of 1.4 and 1.3 per cent respectively.
Meanwhile Emaar's share approached Dh11, with many investors fearing further decline, as the stock closed 0.9 percent lower at Dh11.20 after touching Dh11.10 during the session. In addition, shares of Amlak also fell by 3.2 percent.
