Monday, July 08, 2013

Dubai Holding confirm plan to review Tiger Woods project

A global investment holding company, Dubai Holding, is once again planning to review Tiger Woods Dubai, after suspending the project in 2011. The multi-million dollar golf and property development project was put on the back burner in the year 2011, due to difficult market conditions.

The project was a partnership between Tatweer, part of Dubai Properties Group, the real estate arm of Dubai Holding, and Tiger Woods Design.

The project spanning 55mn square feet was likely to include 287 luxury villas and mansions, a boutique hotel and clubhouse, a 7800 yard course par 72 design. The villas were priced in the range Dh.44million and Dh.84mn during the launch phase.

Close on the heels of property market recovery, the developers in Dubai launched new golf communities.

A joint venture between Meraas Holding, a Dubai-based development company and Emaar Properties, the largest developer in Dubai, led to the development of Dubai Hills Estate, a master-planned community in the first phase of the mega Mohammed Bin Rashid Cit development, a premium lifestyle community, which would be home to several neighbourhoods established around an 18-hole championship golf course.

Early in May this year, Damac a private developer, tied up with the Trump organization to develop Trump International Golf Club, an 18-hole PGA Championship Golf Course in Dubailand.

With the revival of the property market, Dubai Holding has already confirmed its plan to revive The Lagoons project, worth Dh.64bn on Dubai Creek through a joint venture. 

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