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Real Madrid enters the luxury resort business
Tuesday, 07 May, 2012
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Spain’s Real Madrid soccer team is going into the resort business in the United Arab Emirates.
Jointly with the government of Ras Al Khaimah (RAK) , the Spanish champions will develop Al Marjan Island as a "sportainment" destination.
The 50-hectare resort aims to attract one million visitors a year after it opens in 2015.
The complex will include luxury hotels, a marina and theme park. It will also house a 10,000-seat stadium, sports facilities, a Real Madrid club museum, shopping mall and residential areas.
Real president Florentino Perez said, "This project may be seen as unusual for a football club, but we feel this will set a trend across the industry as clubs try to find new ways to make money.”
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