Aldar sells the Yas Marina Circuit in Abu Dhabi!
According to local media, the Yas Marina circuit promoter has sold the circuit directly to the Abu Dhabi government. Aldar, the promoter of the circuit that made its debut on the calendar last season, announced earlier this month a 79% drop in its profit in 2009. The company sold a number of essential assets, including, […]
According to local media, the Yas Marina circuit promoter has sold the circuit directly to the Abu Dhabi government. Aldar, the promoter of the circuit that made its debut on the calendar last season, announced earlier this month a 79% drop in its profit in 2009.
The company sold a number of essential assets, including, for example, the Grand Prix circuit.
« This [the sale of assets] includes the roads, utilities on Yas Island, the Yas Marina Circuit, and the Yacht Club, » said CFO Shafqat Malek to Gulf News.
According to the newspaper, the sale of assets should allow Aldar to meet its debt commitments.
