Real Madrid star Cristiano Ronaldo will build a paediatric hospital in Chile's capital Santiago in 2020, according to Brafman & Associates Law Firm, who administer the player's business.

The hospital will be a joint venture between the Portugal captain and Italian businessman Alessandro Proto.

"Portuguese footballer Cristiano Ronaldo will build a paediatric hospital in Santiago Chile, in 2020," the statement from New York-based law firm Brafman Associates said as reported in EFE.

"Cristiano -- up to now the only player in the history to have won the The Best FIFA award for the best player in the world -- and Alessandro are very happy with this initiative."

Santiago will be the first of other South American cities where Ronaldo and Proto intend to build paediatric hospitals.

The 32-year-old Ronaldo was for the second straight year the world's highest-paid footballer -- and highest-paid team athlete -- according to U.S. business magazine Forbes.

He has donated millions to a number of charitable causes and natural disaster relief funds and is an ambassador for three major charities: Save the Children, Unicef and World Vision.

Earlier this year, the former Manchester United player appeared in a Save the Children video for World Refugee Day. He also regularly donates blood and has been involved in numerous campaigns to encourage others to do the same.

On Monday, two days after helping Real Madrid win the FIFA Club World Cup by scoring the only goal against Gremio in the final, Ronaldo tweeted a photograph of himself surrounded by youngsters with the message: "Dynamic and united...my new team of young blood and plasma donors are motivated! Like @BETHE1Donor... #BETHE1Donor #Abbott ☝��☝��. Join us and donate now...You could save a life...Sign up at http://www.bethe1donor.com/donate."

Real Madrid president Florentino Perez praised Ronaldo after winning his fifth Ballon d'Or earlier this month and highlighted the player's "generous and caring" character.