According to Iyad Duwaji, CEO, Shuaa Capital, the UAE’s largest investment bank, Emaar Properties is undervalued.

In an interview given to Arabian Business, he said, “I believe people have really turned sour on Emaar for sentimental reasons. The consensus of analysts is that Emaar should be trading closer to the 18 to 20 dirhams range.”

Shares for Emaar closed down 0.4% lower at AED 11.35 on Wednesday. The company’s shares have shed a