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Union Properties receives AED 400m offer for buying stake in Dubai Autodrome

Union Properties receives AED 400m offer for buying stake in Dubai Autodrome
The board will also consider the acquisitions of some investment real estate assets
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Dubai – Mubasher: Union Properties has received an offer worth AED 400 million for buying a 40% stake in its subsidiary Dubai Autodrome, which includes a number of world-class racing circuits.

The Chairman of the real estate development company, Khalifa Hasan Al Hammadi, said that the board will study the acquisition offer in its upcoming meeting, according to a press release on Thursday.

During the meeting, the board will also consider the acquisitions of some investment real estate assets in the UAE.

Noteworthy to mention, in August, Al Hammad announced during a press conference that the company is planning for new acquisitions valued around AED 1.5 billion to promote the company's financial position by investing in real estate, health, education, and hospitality sectors.