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 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