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Thirty Dubai stock cars available for sale

Thirty stock racing cars, owned by Union Properties, are up for sale on a website specialising in unique lots, the National reports on Sunday.

The vehicles, able to reach speeds of up to 225kmph, are available in a single lot on the site Go-Dove.com, whose owner hopes will go for $1.5m, the paper reports.

The sale is being conducted as a “private treaty sale”. There is no deadline, but Will Hancock, the operations manager for the website, told the paper it would be held in the next few months.

The cars are being stores in a warehouse at the Dubai Autodrome. They were purchased by Union Properties as part of its Speedcar International racing series, launched in 2008.

According to the report, Speedcar International folded with liabilities of AED153m after pressure from the real estate downturn and tighter liquidity put the firm under pressure.

The races were part of the Union Properties’ MotorCity project, which was put on hold last year.

Union Properties spokesman confirmed the liquidation to the paper but declined to comment further.

Sauce: http://www.arabianbusiness.com/594875-t ... e-for-sale

Just one of those credit fueled big shebangs gone down the drain with the real estate sector bust. Make me wonder everytime I drive past SZR to see the magnificent half finised/almost finished to completed towers and landscaping just standing there empty or almost empty, that how much money must have been lost by a lot of people. Sad really

Why have any sympathy?

They were only doing it to exploit their own land.

Maybe it will give them more humility?



Knight