Real Madrid to build $1 billion resort in Gulf
Reuters - Thursday 22 March 2012, 15:24
Nine-times European champions
Real Madrid have unveiled plans to open a branded holiday resort
in the United Arab Emirates due to open in January 2015.
'Real Madrid Resort Island' is a $1 billion dollar venture
with the RAK Marjan Island Football Investment Fund and the
government of the Emirate of Ras Al Khaimah, developed under the
club's brand.
No further financial details were given.
A presentation at the Bernabeu on Thursday showed plans for
sports facilities, a marina, luxury hotels and villas, an
amusement park, a club museum and a 10,000-seat stadium with one
side open to the sea.
"It is a decisive and strategic step that will strengthen
our institution in the Middle East and Asia," said Real
president Florentino Perez.
The 430,000-square metre leisure facility is expected to
attract around one million visitors in 2015.
Real said the artificial island's location put it
equidistant between Europe and the Far East, adding that more
than half of their estimated 300 million followers were based in
Asia.