Dubai: Shares of UAE developer Emaar Properties surged more than 5% on Wednesday, aiding in the uplift of Dubai's main stock index as investors continued to drive a rebound in Gulf equities despite ongoing regional tensions. Emaar emerged as one of the strongest performers on the Dubai Financial Market, with an approximate gain of 5.2% during the session, and market data indicated the share price at around 12.10 dirhams ($3.3).

According to Anadolu Agency, the rally occurred as Dubai's benchmark index increased by 2.3%, further bolstered by significant gains in Emirates NBD. Emaar's stock price also saw a considerable rise of over 15.7% from Tuesday's low of 10.45 dirhams ($2.85). This advance marked a progressive recovery for Emaar following several sessions of steep losses earlier in the week when the company's shares were under pressure alongside broader UAE equities amid escalating regional conflict. On Monday, Emaar led losses on the Dubai exchange as investor sentiment sharply weakened.

The recent gains indicate that investors are selectively returning to heavyweight UAE property and banking stocks, supported by confidence in the country's financial stability and domestic fundamentals. Dubai stocks have experienced high volatility in recent sessions as markets responded to the consequences of the Middle East conflict, which included attacks on critical infrastructure and uncertainties over regional trade and energy flows. Nonetheless, property counters such as Emaar and Aldar have been pivotal in leading the recent recovery in Gulf markets.