23 Mar 2012

Real Madrid to build $1bn resort in UAE

7:35 am on 23 March 2012

The glamour Spanish football club Real Madrid have announced plans to build a $1.2 billion holiday resort in the United Arab Emirates that is due to open in January 2015.

The club says 'Real Madrid Resort Island' will be supported by the government of the Emirate of Ras Al Khaimah.

A presentation at Real Madrid headquarters 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.

The club says half its estimated 300 million fans are based in Asia.