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SBD Global/September 23, 2013/Facilities
Construction Of Real Madrid's Planned $1B Resort In UAE Scrapped, Project Could Move
Published September 23, 2013
RESORT PROVES UNREAL: ARABIAN BUSINESS' Daniel Shane opined "if ever there was an ill-fit for a branded-mega project this was it." Given that the developer, Real Madrid Resort Island, "did not secure any funding for the project and never even owned the land on which it was to be built, the news that the attraction has been shelved -- or possibly relocated to Abu Dhabi -- will come as a revelation to few" (ARABIAN BUSINESS, 9/22).
MADRID SEEKING ALTERNATIVE: DEPOR reported Real Madrid President Florentino Peréz's "dream of an artificial island inspired and based on the history" and philosophy of Real Madrid "is far from becoming reality." The project "was canceled and it will now not be able to be built in this Arab country." This, however, "will not stop Real Madrid from looking for a new location in another nearby country like Qatar, which will host the 2022 World Cup" (DEPOR, 9/19).