Union Properties receives Dhs400m offer for a 40% stake in Dubai Autodrome

Union Properties receives Dhs400m offer for a 40% stake in Dubai Autodrome

Dubai developer Union Properties has received an offer of Dhs400m for a 40 per cent stake in its subsidiary Dubai Autodrome, it announced on Thursday.

Dubai Autodrome, a multipurpose motorsport and entertainment facility, includes several racing circuits.

It has hosted global races such as the FIA GT Championship, European Touring Car Championship, A1 GP, GP2 Asia, Lamborghini Super Trofeo ME, MRF Challenge, Porsche GT3 Cup Challenge ME, the Radical Middle East Cup and the Hankook 24H Dubai Endurance Race.

Khalifa Hasan Al Hammadi, chairman of Union Properties, said: "Union Properties has a number of subsidiary companies with added value in vital sectors that help achieve sustainable growth.

"As previously announced, we are in the process of converting a number of these into private joint stock companies.

"We are currently evaluating the offer and will