Union Properties mulls $108m offer for #Dubai Autodrome stake - Arabianbusiness

Union Properties mulls $108m offer for Dubai Autodrome stake - Arabianbusiness:

Union Properties has announced that it has received an offer of AED400 million ($108 million) for a 40 percent stake in its subsidiary Dubai Autodrome, the UAE’s first fully-integrated multipurpose motorsport and entertainment facility.

The Dubai-based developer did not name the interested party but said it is "evaluating the offer" and will discuss it at the next meeting of the board of directors.

Dubai Autodrome, one of the highlights of the Union Properties portfolio, includes a number of world-class racing circuits and is the only one of its kind in Dubai.

It has hosted world-class races, including 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.