Pacific Ventures, a Dubai-based developer, has signed up as premium partner of the Sauber F1 Team.
The association with Sauber will commence from the 2014 Australian Grand Prix onwards with the developer’s logo appearing on the rear sidepods of the Sauber C33 and later, on the drivers’ overalls.
“It is the first partnership of the Sauber F1 Team with a brand from the Middle East,” Parvez Khan, Chairman Pacific Ventures, told Emirates 24|7.
“Apart from the F1 as a sport, the profile, the lifestyle, the glamour and everything else that F1 brings along, we were also looking for a team that understand us as a company, our goals, our mission and our drive."
He added: “Sauber understands that very well and not just that, we have all the plans in achieving our objective together in a manner which is going to surprise Dubai market very soon.”
Pacific Ventures was in discussion with a few teams since last August.
Refusing to disclose the names of the teams, Khan said: “We explored the best possible option keeping in mind our market and our audience and eventually decided to go ahead with Sauber.”
In the opening race of the 2014 F1 season, Sauber’s Adrian Sutil from Germany will start in 14th position on the grid. Esteban Gutierrez from Mexico qualified in his Sauber in 19th, but also collected a five-place grid penalty for the race for having a new gearbox.
Abu Dhabi is the venue for the final race in the Formula 1 calendar 2014, with the Grand Prix of Abu Dhabi taking place on November 23.
Peter Sauber, the founder of Sauber F1 Team, owns 66.6 per cent stake, with the remainder owned by Sauber CEO Monisha Kaltenborn.
Pacific Ventures has launched four projects with Burj Pacific, being its flagship residential project, in Burj Khalifa district.