Press release
Tiger Woods Dubai golf course shelved
Tiger Woods Dubai golf course shelved
The Tiger Woods Dubai was scheduled to open in late 2009 but ran into difficulties when the global financial crisis struck in 2008; property prices in Dubai crashed and, as a result, the opening of the Tiger Woods golf resort was pushed back on several occasions.
In November last year it was revealed that construction work on the two hundred and ninety two residential properties had never started and that most of the staff employed by Dubai Properties had been laid off months earlier.
In an official report, Dubai Properties released a statement regarding the suspension of the project; “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".
There are, however, strong doubts that The Tiger Woods Dubai will ever be completed, due to the large number of high-end property developments abandoned in Dubai last year. In spite of this, Dubai Properties said it will continue its commercial agreement with Tiger Woods and his organisation.
Tiger Woods is reported to have received a US$10 million fee for designing the golf course, as well as receiving royalties on property sales and his choice of mansion on the development, once completed.
In an interview with the Associated Press, Tiger Woods commented; "It's been put on hold for right now. A lot of projects are out there. It's still there. We've got six completed holes and a few that were about to be grassed before construction was halted. Everything is on hold."
Even by Dubai’s standards the Tiger Woods Dubai was opulent, with mansions and palaces for sale, some priced as high as US$25 million. The project was also to feature a boutique hotel and a Michelin-starred restaurant.
Thirty percent of the properties at The Tiger Woods Dubai have already been sold and, at this time, it is not clear whether investors will have their deposits returned.
In the fourteen months since his infamous car crash outside his Florida home, Tiger Woods has endured the first season of his golfing career without a win. In the wake of the car crash scandal he lost many of his largest commercial sponsors including American telecoms company AT&T, financial firm Accenture and Gillette.
Now it seems the Tiger Woods brand is suffering further setbacks.
Article source... http://blog.oceanvillasgroup.com/tiger-woods-dubai-golf-course-shelved/
Rebecca Smith is a real estate journalist with more than 15 years experience. She is currently the sales director for Ocean Villas Group (http://www.oceanvillasgroup.com) who specialise in luxury ocean view property investments worldwide.
For more Investment news... http://blog.oceanvillasgroup.com
Level 31,
6 Battery Road,
Raffles Place,
049909,
Singapore
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Tiger Woods Dubai golf course shelved here
News-ID: 161228 • Views: …
More Releases from Ocean Villas Group Pte. Ltd.
Vera Wang bags Steve Hermann property in Beverley Hills, Los Angeles
Celebrity New York fashion designer Vera Wang has splashed out US$9.2 million on a Steve Hermann designed property in Coldwater Canyon, Beverley Hills, Los Angeles.
Hermann bought the 408m2 house in June 2008 for US$5 million. He spent the next two years completely redesigning and renovating the 1967 built property at a cost of US$3 million.
Two new bedrooms were added. The ceilings were raised to a height of 3.6 metres. The…
Asia Pacific worlds cheapest for building property
The Annual Construction Cost Comparison Report by EC Harris Research has revealed that countries throughout the Asia Pacific region have significantly lower building costs than their counterparts in The West, despite experiencing substantial economic growth.
Now in its seventh year, the report compares building costs per square metre in fifty six countries worldwide against construction costs in the South of England.
India and Sri Lanka have the lowest construction costs in the…
Jade Jagger puts Spanish property up for sale
Spain: The daughter of Rolling Stones frontman Mick Jagger, Jade Jagger, has put her Spanish property up for sale.
The seventeenth century farmhouse is located on the North West Coast of the Balearic Island of Ibiza near the village of Sant Joan de Labritja.
Dubbed by Jagger as her own “private paradise”, the Spanish property sits on top of a mountain overlooking the Mediterranean Sea.
And from its secluded location it’s hard to…
Spain cuts new property tax in half to lift Spanish real estate industry
Madrid, Spain: The Spanish Government has cut value added tax on new property in Spain by 50 per cent with immediate effect.
The reduction in VAT (Spanish - IVA) from eight per cent four per cent on new build Spanish properties came into force on August 19th and will continue until the end of the year.
Announcing the decision Jose Blanco, Minister of Development for Spain, said he hoped the new measures…
More Releases for Tiger
Project Logistics Market Is Booming Worldwide | BT Transport & Logistics, Tiger …
Project logistics involve integrated process of planning, organization, managing, processing, and controlling the complete flow of goods, materials, and information. These are associated with the successful completion of a project. Dealing with cargo of peculiar dimensions is always a challenge for a transporter. Cargo with larger dimensions requires a completely different set of equipment, infrastructure, and experienced personnel. However, increasingly, shippers and service providers are becoming more sophisticated in the…
Tiger Nut Market Growth By Top Companies, Trends By Types And Application, Forec …
Los Angeles, United States – – QY Research offers an overarching research and analysis-based study on the global Tiger Nut market, covering growth prospects, market development potential, profitability, supply and demand, and other important subjects. The report presented here comes out as a highly reliable source of information and data on the global Tiger Nut market. The researchers and analysts who have prepared the report used an advanced research methodology…
Chaitanya Pandey – India’s Young Tiger Woods
Chaitanya Pandey finds the present time most appropriate to celebrate the anniversary of his triumph at the European Championship held in Scotland last year.
With the world in lockdown amid the COVID-19 pandemic, one of the casualties has been sports which had to take a back seat due to government-imposed travel restrictions and new laws on social distancing. Golf has been one of the sports most affected with courses shut up.
One…
Tiger Nut 2018 Global Industry Key Players - TIGERNUTS TRADERS, S.L. , The Tige …
Global Tiger Nut Market
In this report, the global Tiger Nut market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Global Tiger Nut market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
TIGERNUTS TRADERS, S.L.
The Tiger Nut Company Ltd
Tiger…
Tiger Population Still Struggling Despite Rise
Between 2006 and 2010, the tiger population has seen a 20% increase, meaning renewed hopes for the survival of the Royal Bengal Tiger.
The All India Tiger Estimation puts the total figure at 1,706. Whilst this is promising, environmentalists are still concerned about the declining size of the habitat tigers occupy. In 2006, India’s tigers roamed around 93,600 square km – last year that figure stood at 72,800 square km.
"There is…
Kia Soul Special Edition: the White Tiger
The 2011 Kia Soul is winning over many people across the globe and with the release of their line of new limited edition vehicles. Kia Motors North America introduced the all-new Kia Soul White Tiger, one of the two special edition Soul’s released by Kia, in 2011. The Kia Soul has released four special edition Soul models in the past , which include the Soul Denim, Ignition Soul,…
