Prices in Tiger Woods jump 30%

Selling prices for residential plots in Tiger Woods Dubai, a private residential golf course development in Dubailand, have jumped by 30 per cent since it was launched, a top company official said.

"We started selling land in the project at Dh650 per square foot and today it has reached Dh850. Majority of the property has been sold out with the number of applicants far exceeding our expectations," Project Director Abdulla Al Gurg told Emirates Business. "We are picking and choosing the applicants. In fact, we are over-subscribed," he said without revealing any sales figure.

The company will soon make an announcement in terms of sales achieved.

The residential section of Tiger Wood Dubai development will consist of 22 palaces, 75 mansions, and 100 luxury villas.

While the cheapest signature villa will cost Dh45 million, the high-end palace is priced at Dh190 million.

Palaces will be located on 100,000 sq ft plots, while 50,000 sq ft has been allocated to each mansion. A signature villa is of 30,000 sq ft.

"Since we understand the value customers seeking to design their own villas, we are only designing 48 signature villas, five mansions and one palace. The remaining will be sold as plots and will be customised," said Al Gurg.

All the 48 signature villas will have separate design floor plan and elevation.

Tiger Woods Dubai will design and manage the landscape and the buffer.

"Tiger Woods himself owns a property. An Emirati golfer from Abu Dhabi paid 30 per cent more for a plot next to him," he added. The Tiger Woods Dubai, a member of Tatweer, recently announced a strategic agreement with Lebanese designer Elie Saab to develop the exclusive Dh600 million signature hotel within the development. The 360,000 sq ft luxury boutique hotel will include 89 suites and 14 bungalows in sizes varying from 1,600sq ft to9,500 sq feet.

The hotel will target top-tier clientele and boast a 10,000 sq ft swimming pool, as well as one of Dubai's most exquisite spas.