Real Madrid to build $1 billion holiday resort in Gulf

Reuters

Thu, 22 Mar 15:24:00 2012

Nine-times European champions Real Madrid have unveiled plans to build a $1 billion holiday resort in the United Arab Emirates that is due to open in January 2015.

'Real Madrid Resort Island' will be supported by the government of the Emirate of Ras Al Khaimah, the club said on Thursday.

A presentation at the Bernabeu showed plans for sports facilities, a marina, luxury hotels and villas, an amusement park, a club museum and a futuristic 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 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.

 

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