Shares in Arabtec, the UAE's biggest construction firm, fell 1.9 per cent to Dh1.99 this morning as the property sector struggled on Dubai's bourse.
The fall in value comes a day after it emerged that the Abu Dhabi Securities Exchange had instructed brokers to ban Riad Kamal, the company's chief executive, from buying securities.
The wider real estate and construction sector led a slump on the Dubai Financial Market General Index which fell 0.48 per cent to 1651.39 in the opening hours.
Arabtec's stock was the most widely traded on the Dubai bourse this morning, with 17.9 million shares changing hands.
However, other companies in the sector also slumped, with Drake and Scull International falling 1.8 per cent to Dh1.07 and Emaar down 0.5 per cent to Dh3.52.
Meanwhile, the Abu Dhabi Securities Market rallied 0.47 per cent to 2761.36.
Leading the gains in the capital were RAK Bank, which rose 9 per cent to Dh5.3 per share, and United Arab Bank, which increased 6.8 per cent to Dh6.4 per share. However, volumes were thin, with both stocks trading around 5,000 shares.
