Emaar, which is expected to report its earnings in the next few days, climbed 3.2 percent to its highest close since Aug 4. 

"Good numbers are expected from Emaar and investors are also hoping for good dividends," says Nadi Bargouti, head of asset management at SHUAA Asset Management. 

The builder of the world's tallest tower, the Burj Khalifa, has already gained over 9 percent this year. 

Analysts polled by Reuters on average expect Emaar to post a 74 percent increase in fourth-quarter profit.

Other property stocks declined. Arabtec dropped 1.5 percent, trimming its 2011 gains to 67.3 percent. Deyaar fell 2.1 percent and Union Properties lost 1.4 percent. 

The Dubai index rose 0.6 percent to 1,482 points. The Abu Dhabi measure fell 0.2 percent to 2,465 points. 

Most Gulf indices advanced, tracking gains in European shares, which rose after markets priced in a successful outcome to Greek debt talks.

In Egypt, the index extended gains for a second day after investor appetite was boosted by Monday's announcement by the country's military rulers that they wanted to bring the presidential vote forward.   

Twenty-five of the index's 30 stocks rose. The benchmark advanced 2.7 percent to 4,709 points, just shy of a year-high close of 4,713 points earlier this month. 

Orascom Telecom Media and Technology (OTMT) surged 9.9 percent after its founder Naguib Sawiris detailed new expansion plans in Europe, the Middle East and Africa in a Reuters interview on Tuesday.   

OTMT's subsidiary mobile phone company Mobinil jumped 10 percent on talk that share holdings between the two companies would be reorganized. Mobinil officials were not immediately available to comment.   

Commercial International Bank, Egypt's biggest listed lender, gained 1.3 percent and Orascom Construction added 2.7 percent. 

The Qatari benchmark inched up 0.04 percent to 8,691 points. 

The Kuwaiti index added 0.4 percent to 5,851 points. 

The Omani index rose 0.6 percent to 5,624 points. 

The Bahraini index gained 0.1 percent to 1,136 points.