Union Properties Board of Directors Approve AED 400mn offer stake in Dubai Autodrome
Union Properties PJSC, a pioneer in the property development sector, announced today its Board of Directors has approved the offer of AED 400 million for a 40% stake in its subsidiary Dubai Autodrome, the UAE’s first fully-integrated multipurpose motorsport and entertainment facility. The decision was taken at a meeting held on Tuesday, 29th September 2020.
During the session, the board also voted unanimously to acquire an existing investment property in the Business Bay area of Dubai, worth AED 250 million. They will continue to evaluate and negotiate the acquisition of various other real estate assets in the UAE.
Union Properties is a pioneering developer with a distinguished history in delivering landmark projects. The company has completed a wide range of residential landmarks and commercial projects, attentive to the highest standards of design and quality, such as MotorCity, Dubai Autodrome, Green Community and Uptown MotorCity, Green Community East and West at Dubai Investment Park, Uptown Mirdiff, and Limestone House and Index Tower in the DIFC area.