Spanish footballing giant Real Madrid has picked up Ras Al Khaimah as the site for a branded theme park worth $1bn. Real Madrid and the Government of Ras al-Khaimah presented the Real Madrid Resort Island in the Presidential Balcony of the Santiago Bernabeu Stadium. The 50-hectare project will hold a theme park, the first stadium open to the sea, a Real Madrid museum, numerous sports facilities, a sport port, a residential area and luxury hotels.