Days after announcing a year-on-year 73% drop in earnings in 2009, developer Aldar has sold a number of key assets, including the Formula One Yas Marina Circuit, to the Abu Dhabi government.

'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 Gulf News.

The sale should ease any cashflow concerns and enable the developer to meet its debt commitments.