According to these experts, the only two indicators that matter are oil and property, reports The National. The Dubai Financial Market is tiny in comparison to the oil market. So far in December, the total value of shares traded on DFM in a very busy month has been AED17 billion.
The real estate market is not so big, of course, but it reaches far further into the everyday lives of citizens and residents, and has the ability – as was demonstrated cruelly in 2009 – to affect everything else if it goes wrong.
In contrast, apart from a few shock headlines, most people outside financial circles would hardly have noticed the swings of the DFM over recent weeks. Equity markets are certainly important, and play a central role in the growing financial sector in Dubai, but they do not have the same potential to spark crisis as oil and property.