Real Madrid enters the luxury resort business
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.”
Ian Jarrett
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