Dubai's index advanced 0.2 percent, up from Tuesday's seven-year low. Volumes fell to a three-week low.
"This is mainly technical... a small retracement is bound to happen after such a huge dip," said Firas Yaish, business development manager at ICM Capital.
"Especially since the drop wasn't based on fundamentals."
Dubai Islamic Bank gained 1.6 percent, Deyaar Development climbed 5.1 percent and Emaar Properties edged up 0.4 percent.
In Abu Dhabi, Aldar Properties rose from an all-time low, ending 1.2 percent higher.
It dismissed on Wednesday speculation it may delist from the Abu Dhabi market, which had pressured the stock in recent sessions.
"The news on Aldar's delisting also helped cool the market worries," Yaish added.
The emirate's benchmark climbed 0.3 percent but continues to hovering at a March 2009 low.
Etisalat and Sorouh Real Estate also supported the bourse, rising 1.4 and 2.5 percent respectively.
Elsewhere, Qatar's Barwa Real Estate closed 6 percent higher after signing off Barwa Financial District to Qatar Petroleum.
The initial value of the project was estimated at SR11 billion riyals, the developer said in a bourse statement. Doha's index ended little changed.
In Oman, heavy-weight stock Bank Muscat rose 1.8 percent higher after saying it will launch a 100 million rials ($259.7 million) rights issue in the second quarter of 2012.
"The fund raising plan would help the bank in reinforcing its capital base and achieving higher asset growth," said Kanaga Sundar, Gulf Baader Capital Markets head of research.
"We remain positive on Bank Muscat."
The index edged higher 0.05 percent, taking its December gains to 4 percent.
"For the overall market, we see improved activity in the coming trading sessions looking at the New Year," Sundar added.
Losers outnumber gainers 17 to four. Raycut Cement limited gains on the index, falling 2.1 percent.
Elsewhere, Kuwait's index slipped 0.3 percent to its lowest close since Nov. 28.
Traders expect choppy and sluggish sessions amid a lack of local catalysts until the year-end.
