Lavish course on hold after developer admits Dubai market lacks demand
Construction of a $1.1bn golf course designed by Tiger Woods has been suspended indefinitely after developer Dubai Properties said market conditions did not did not support the project.
The course had been due to open in late 2009 but had been delayed several times since the Dubai property crash in November 2009.
Reports suggest that some holes have been completed but Dubai Properties said that the course was on hold it was waiting to see when it would build the rest of the venue.
“These conditions will continue to be monitored and a decision will be made in the future when to restart the project,” it said in a statement.
The developer also said the decision was down to the slump in the luxury Dubai property market, rather than the string of affairs by the former world number one golfer exposed at the end of 2009 which led to Woods being dropped by several sponsors.
“This decision was based on current market conditions that do not support high-end luxury real estate,” it said.