DUBAI: Emaar Properties, Dubai's largest listed developer, helped lift the emirate's bourse in early trade on Tuesday after pricing its malls unit's initial public offer at the top of the indicated range and promising to float its hotels business next.

Dubai's main index rose 0.7 percent as Emaar added 1.8 percent. Its subsidiary Emaar Malls Group <IPO-EMAR.DU> said on Monday it had raised $1.58 billion in the IPO amid massive demand from investors, making it the largest stock offer in a Gulf Arab economy since 2008.

Emaar chairman Mohamed Alabbar was also quoted as saying on Monday that the company would list its hotels unit in coming months.

He did not elaborate. Abu Dhabi's bourse was nearly flat with heavyweight banks mostly unchanged. Qatar's index edged down 0.3 percent.

Qatar National Bank fell 1.0 percent and Industries Qatar lost 1.1 percent.

Trading once again focused on property developer Ezdan Holding, which added 2.2 percent ahead of its inclusion in the main benchmark on Wednesday.

Copyright Reuters, 2014