While Michael Schumacher may not be pulling down the kind of ludicrous income today that he was when racing for Ferrari, it doesn’t look likely that he’ll go begging anytime soon either.

According to a piece by German publication Bild, the former Formula One champion is set to earn five million euros for lending his name to a 29-story office building in F1-crazy Dubai. Schumacher’s manager confirmed the rumor, saying that the building had sold out its space within three days.

Schumacher isn’t done with property development either. The former driver has plans to open the Michael Schumacher Business Avenue, a combined commercial and residential building, in 2010.

+ F1-Live: Tycoon Schumacher lends name to skyscraper

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