Aldar sells Yas Marina circuit
|Wednesday, February 17th 2010, 12:14 GMT|
The developer of the Yas Marina circuit has sold the track to the Abu Dhabi government, according to local media.
Aldar, the developer of the circuit that made its debut on the F1 calendar last year, announced earlier this month a 79 per cent drop in earnings in 2009.
The company has sold a number of key assets which include the state-of-the-art grand prix circuit.
"This [the assets sale] includes roads, utilities on the Yas Island, Yas Marina Circuit which is home to the Formula 1 race track, Yas Marina and the Yas Yacht Club," CFO Shafqat Malek told the Gulf News.
The sale of the assets is expected to allow Aldar to meet its debt commitments, according to the newspaper.