Dubai Holding, a global investment holding company, is planning to review Tiger Woods Dubai after putting the multi-million dollar golf and property development on the back burner.
“On Tiger Woods, the project was suspended in 2011, we will review our options in line with market demand,” a company spokesperson told Emirates 24|7.
Construction work on Tiger Woods Dubai was suspended “indefinitely” in January 2011, difficult market conditions being cited at the time.
The project was a partnership between Tatweer, now part of Dubai Properties Group, the real estate arm of Dubai Holding, and Tiger Woods Design.
The 55 million square feet project was to include 287 luxury villas and mansions, a boutique hotel and clubhouse. The course - a 7,800 yard, par 72 design - was due to be completed by September 2009.
The villas were priced at between Dh44 million and $84 million during the launch phase.
More golf communities launched
On the heels of a recovery in the property market, Dubai developers have launched new golf communities.
Meraas Holding, a Dubai-based development company, and Emaar Properties, Dubai’s largest developer, formed a joint venture in June to develop Dubai Hills Estate, a master-planned community, in the The first phase of the mega Mohammed Bin Rashid City development, a premium lifestyle community, will host a series of neighbourhoods set around an 18-hole championship golf course.
Earlier in May, Damac Properties, a private developer, tied up with The Trump Organisation to develop Trump International Golf Club, an 18-hole PGA Championship Golf Course, in Dubailand.
The buoyancy in the property market has already led to Dubai Holding confirming to Emirates 24|7 that it is reviving The Lagoons project, originally valued at Dh64 billion, on Dubai Creek through a joint venture.
“Dubai Holding confirms its commitment to revive The Lagoons project. We will be working jointly with another real estate developer to deliver the project. Details on the project will be announced in due course,” a company spokesperson had said at the time.