The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
In Dubai, the index surged 4.1 per cent, its biggest intra-day gain since January 2016, boosted by its largest lender Emirates NBD.
Emirates NBD surged 14.9 per cent to its highest level since October 2007, after the bank raised foreign ownership limit to 20 per cent from 5 per cent with immediate effect.
The bank also announced its intention to raise that limit to 40 per cent in future after seeking approval from its shareholders and the regulatory authorities.
The Abu Dhabi index added 0.3 per cent, offsetting some losses from the previous session. Emirates Telecommunications rose 0.7 per cent and Abu Dhabi Commercial Bank was up 0.6 per cent.
Saudi Arabia's stock index slid 0.3 per cent, extending its losses for the fourth straight session, with Riyad Bank falling 1.9 per cent and Saudi British Bank losing 1.3 per cent.
Banks continued to weigh on Saudi as receding passive fund flows dampened investor appetite.
Middle East funds plan to reduce investment in Saudi Arabia, a Reuters poll showed last week, displaying a bearishness that has carried over from last month.
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
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