Developed by Union Properties in conjunction with Formula One Administration Limited, Formula One™ World will be a visionary and permanent theme park offering unparalleled access to the world's most popular annual sporting series and feature state-of-the-art fun and entertainment facilities for all ages, all 'under one roof'.
The $360 million development, spread over 5 million square feet, will include a hotel and advanced conference centres, offering the global corporate community unique and truly original business facilities.
Bernie Ecclestone, CEO, Formula One Administration Ltd. said: "I'm pleased to be working with Union Properties and have every confidence that they will deliver an outstanding development, which Formula One fans the world over will enjoy".
Anis Al Jallaf, Chairman, Union Properties said:
"We at Union Properties are delighted to be associated with Formula One and are intent on creating the most exciting and imaginative theme park in the world. This is another landmark in the rapidly developing landscape of 21st Century Dubai and is in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Dubai Crown Prince and UAE Minister of Defence."
The project is scheduled to begin construction in 2006 and will be completed in 2008.
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Union Properties to create Formula One World
- United Arab Emirates: Sunday, October 16 - 2005 at 12:37
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Today, in Shanghai at the Chinese Grand Prix, Union Properties, the Middle East's leading property development company, has signed an agreement with Formula One Administration to build the first-ever Formula One™ World at MotorCity, Dubailand, Dubai.
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Posted by Anne-Birte Stensgaard, Senior News EditorSunday, October 16 - 2005 at 12:37 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Thu Mar 29 2007.
Notes and Media Contacts »
Union Properties
Union Properties PJSC, one of the UAE's leading property investment developers and a public joint stock company established in 1993, is totally committed to providing quality service in everything it does.
The success of Union Properties is built upon six basic principles forming the company's ethical code; these being 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.
Union Properties has an outstanding reputation for professionalism and integrity throughout the United Arab Emirates, serving public institutions, multinational corporations, the business community and the private sector.
Formula One
The FIA Formula One World Championship is the world's most popular annual sporting series and in 2004 was broadcast on television in 174 countries, the highest number of countries in its history.
2005 is the biggest calendar in the history of Formula One with 19 races across four continents.
Formula One Administration Limited
Formula One Administration Limited, founded by Bernie Ecclestone, holds the exclusive commercial rights to the FIA Formula One World Championship.
For further information - contact:
Michelle Chatelier, Union Properties
Tel: +971 (4) 204 6211
Fax: +971 (4) 294 9496
Union Properties PJSC, one of the UAE's leading property investment developers and a public joint stock company established in 1993, is totally committed to providing quality service in everything it does.
The success of Union Properties is built upon six basic principles forming the company's ethical code; these being 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.
Union Properties has an outstanding reputation for professionalism and integrity throughout the United Arab Emirates, serving public institutions, multinational corporations, the business community and the private sector.
Formula One
The FIA Formula One World Championship is the world's most popular annual sporting series and in 2004 was broadcast on television in 174 countries, the highest number of countries in its history.
2005 is the biggest calendar in the history of Formula One with 19 races across four continents.
Formula One Administration Limited
Formula One Administration Limited, founded by Bernie Ecclestone, holds the exclusive commercial rights to the FIA Formula One World Championship.
For further information - contact:
Michelle Chatelier, Union Properties
Tel: +971 (4) 204 6211
Fax: +971 (4) 294 9496
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