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F1 Theme Parks - Union Properties get sole developing rights: Union Properties, one of the leading property investment developers in the UAE and Formula One Administration Limited, owners of the Formula One brand have signed a license agreement granting the former exclusive rights to develop F1 Theme Parks around the world.
The agreement was signed during a meeting in London between Mr. Simon E. Azzam, CEO, Union Properties and Mr. Bernie Ecclestone, CEO, F1 Administration Ltd. Upon signing the contract Mr. Simon E. Azzam said, "Following the signing of an earlier agreement for developing the first ever F1 Theme Park in Dubai we are delighted with the signing of a new license agreement allowing us to roll the concept out worldwide."
Established in 1993, Union Properties PJSC 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.
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