Aldar Properties sells Ferrari World to UAE government

Posted Sunday, January 16, 2011 10:54 PM | Contributed by Rick_UK

The commercial and residential property firm is to sell the theme park on Yas Island as well as the related roads, bridges and marine infrastructure for around AED 10.9 billion, along with around AED 5.5 billion in residential units. Mubadala Development Company, a state-owned investment company, will buy an AED 2.8 billion convertible bond from the company, according to the statement, originally highlighted last week.

Read more from Construction Week.

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Monday, January 17, 2011 8:54 AM

No surprise there.

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Monday, January 17, 2011 2:12 PM

That's equivelant to about 3 billion USD

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