Dubai Financial Market-listed real estate development firm Union Properties announced that it is in the final stages of signing a memorandum of understanding (MoU) with China National Chemical Engineering Limited (CNCEC) for the Dubai Autodrome expansion project valued at approximately $54.5 (AED200m).
The Dubai Autodrome, which opened in 2004, currently comprises a track length of 5.39km that is certified by the International Automobile Federation, and is equipped with six different configurations of internal and external tracks.
The autodrome has hosted world races including the FIA GT Championship, the European Touring Car Championship, the A1 GP, the GP Asia, the Lamborghini Super Trofeo Middle East Race, the MRF Challenge, the Porsche GT3 Cup Challenge ME, the Radical Middle East Cup, and the Hankook 24-hour Dubai Endurance Race.
The new expansion is in line with plans to enhance the growth of Dubai Autodrome and boost Union Properties’ presence at local, regional, and global levels.
Source: Construction Week Online
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