Union Properties embarks on unique affiliation with Ferrari

Union Properties will be working alongside Ferrari to develop a spectacular new project, bringing the world's most famous and prestigious brand to become a focal part of Dubai. "Ferrari World" will be based in the Dubai Autodrome covering an area of over eighty hectares.

The project, which is planned to be completed in the Spring of 2006, is a multifaceted Ferrari themed "edutainment" complex, that will take the mantle of the internationally recognized entertainment and cultural park where the whole family can appreciate the Ferrari legend. "Ferrari World" will offer an experience unique to the region showcasing Ferrari's successful history, culture, style and quality of past, present and future endeavors. The project will feature a futuristic inter-active museum as well as an opportunity to experience the ultimate Ferrari driving experience alongside a Members and VIP clubhouse, amusement center, fine dining restaurants and a one-stop Ferrari store with the latest memorabilia available.

The "Ferrari World" in Dubai will be the first of its kind in the world. The project will encompass the style, design and charm of Ferrari. Innovation and tradition in this state of the art development will reflect the concept and the vision of the Ferrari brand evoked by legend and design.

Anis Al Jallaf, Chairman of Union Properties said, "Everyone at Union Properties is delighted by this announcement, for Union Properties to be involved and to be given the opportunity to work with such an esteemed brand shows the synergy between both Ferrari and ourselves as leaders in our respective industries. Aligned with the vision of the government of Dubai, we look forward to providing one of the most pioneering projects in the region."

Simon E. Azzam, CEO of Union Properties said, "We are extremely proud that this project is now materializing and developing as per our vision. After many months of hard work between the two companies to bring this project to fruition, we are finally in a position to initiate what will be a phenomenal addition to the city of Dubai, under the unique brand name that is Ferrari."

Union Properties consists of a number of projects, including the Dubai Autodrome and Business Park. The success of Union Properties is built upon six basic principals, which forms the company's ethical code. Those principles are: quality, service, innovation, care, trust and diversity. Embedding these six values into every faceted aspect of the operation has enabled Union Properties to leverage itself as a leader in its field.