The Dubai Properties Group has announced that work on the luxury Tiger Woods branded Dubai golf course and residential development has been suspended because of ‘unfavourable market conditions’.
The opening of the golf course, designed by Tiger Woods and located on the outskirts of Dubai, included an academy and driving range and was to be followed by a second phase of building which included a ‘boutique hotel’ and a gated ‘village’ with 197 properties described variously as ‘palaces, mansions and villas’.
The developers stated: “This decision was based on current market conditions that do not support high-end luxury real estate. These conditions will continue to be monitored and a decision will be made in the future when to restart the project.”
When Woods played at The Open in St Andrews last year he admitted that the project was not going according to plan.
“Our Dubai project is on slow-down right now. We’ve got six holes grassed and working on the others. We’ve had numerous opportunities to do other things around the world, and we’re still exploring that. The economy is tough around the world, but we’re still getting quite a few opportunities, and we’re looking for the right fit,” he said
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