Abu Dhabi Royal’s Firms, IPOs Propel UAE Bourses to $1 Trillion

Stocks listed in the United Arab Emirates are now worth more than $1 trillion for the first time, helped by a surge in firms tied to an Abu Dhabi royal that account for more than a third of the total value, and a flurry of local listings.

That makes the combined UAE market, which includes exchanges in Dubai and Abu Dhabi, bigger than Milan or Madrid. While dwarfed by the nearly $3 trillion Saudi Arabian bourse, the UAE is larger than most emerging markets, barring a few like India and China, according to data compiled by Bloomberg.

A particularly ...