Union Properties approves AED 400m offer for acquiring stake in Dubai Autodrome

  • Date: 30-Sep-2020
  • Source: Mubasher
  • Sector:Economy
  • Country:UAE
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Union Properties approves AED 400m offer for acquiring stake in Dubai Autodrome

The board has also agreed on the acquisition of an investment property in Business Bay











30 September 2020 10:00 AM





























Dubai - Mubasher: The board of Union Properties has agreed on the offer proposed to acquire a 40% stake in Dubai Autodrome's share capital worth AED 400 million.





During a meeting held on Tuesday, 29 September, the board has also agreed on the acquisition of an investment property in Business Bay in Dubai valued at AED 250 million, according to the company's disclosure to the Dubai Financial Market (DFM) on Wednesday.





The company also decided to proceed with the negotiation of the acquisition of other investment property in the UAE. 





Noteworthy to mention, in August, Al