A Hong Kong developer is building one of the worlds largest polo communities. It will have two international-standard polo fields, stables for 150 horses, a 167-room hotel, 10 restaurants, a three-storey wine cellar with a capacity of 10,000 bottles, a ballroom for 1,000 guests and conference rooms, spas, gymnasiums and a Roman-style indoor swimming pool.

And the best part....it is located in a industrial zone in the Chinese city of Tianjin (about an hours drive from Beijing).

Polo isn't a big sport in China, in fact it is "barely known," according to an article in the South China Morning Post. According to my colleagues at The China Real Time Report, China imported 1,300 horses in 2010, compared with about 300 five years ago--a fraction of the 40,000 imported to the U.S.

But the developers of the Tianjin Goldin Metropolitan Polo Club & Hotel are betting more than $240 million on appealing to the new Chinese rich who want to be identified with European aristocracy. No doubt the place will be covered with gold crests, faux-historic polo gear and red-velvet Napoleonic chairs.

The club "brings the spirit of nobility" to Tianjin, Rowland Wong, president of the polo club, told the Post. Membership will cost about $57,000, with memberships for "patron" team owners to be much higher.