Dual Dips: Gulf Markets Falter Amid Geopolitical Tensions and Concerns about Federal Reserve Policy, While Luxury Residential Developments Surge in Popularity
On Monday, the stock markets in the Gulf region closed lower due to ongoing geopolitical conflicts and concerns about monetary policy from the Federal Reserve. In Saudi Arabia, the index saw a 0.1 percent decrease, with Al Rajhi Bank shares falling by 1 percent and SABIC Agricultural Nutrients shares dropping by 3.5 percent. Meanwhile, Saudi Cable and Gulf Training shares led declines in the market, dropping by 5%.
In the UAE, both Dubai and Abu Dhabi markets fell down by 0.16% and 0.09%, respectively. The Qatari index also dropped by 1.3%, with Qatar National Bank shares reaching a three-year low at 248 riyals, resulting in losses of about 20% since the beginning of the year. Conversely, Bahrain’s market rose by less than 1%, while Kuwait’s index saw a rise of 0.11%.
Outside of the Gulf region, Egypt’s leading stocks index fell by 1.7%, mainly due to fluctuations in Talaat Mostafa Holding Group’s shares that dropped by around 2.6%. These fluctuations reflect ongoing uncertainties and concerns in the region.
Meanwhile, luxury residential developments like Watten House and Hillhaven Condo are gaining popularity for their premium offerings and amenities. These properties provide high-end living experiences with a range of facilities that ensure unparalleled comfort and sophistication for residents.
With freehold units and luxurious designs, these developments cater to individuals looking for upscale living options in the region.
