The Dubai World Cup horse race meeting is set to go ahead as planned on March 28.
The event will take place "without paid hospitality spectators" due to concerns of the new coronavirus outbreak.
Spectators have been banned at race meetings this month across the United Arab Emirates, which had 140 cases of the virus as of Thursday.
The Dubai World Cup has total prize money of €32million, with the event taking place just over two weeks after the Cheltenham Festival.
"Only horse connections, racing officials, accredited media and sponsors will be permitted entry" to the Dubai World Cup, the club said on its website.
The United Arab Emirates' premier horse racing festival is regularly attended by members of the country's ruling families.
All associated events, including the post position draw scheduled for March 25 and race day entertainment, had been cancelled, it said.
Dubai Racing Club said the meeting was being held without paid hospitality spectators due to ongoing global health implications of the virus and because of precautionary measures being implemented by the UAE government.
Other major sporting events and concerts in the UAE have been cancelled or postponed due to the rapidly spreading virus.
Dubai Racing Club and Dubai's government media office did not immediately respond to requests for further comment.
