I love the epic feel of this image. The angle of the camera is perfectly placed to show the vastness of the piece. Very detailed textures and modelling.
It creates a sense of drama very well, and the lighting creates a very realistic piece. The fog/clouds works well to add another level of realism and epicness to the piece.
Model the buildings
The mountains were created using vue 9.5, i would have to recreate this with houdini, prob using using the mountain sop to create the look, then take it further.
LS systems for the trees.
3D fog, probally best off using photoshop to add this in afterwards.