Tiger Woods "plans to take another swing at golf course development in Dubai after his first drive ended in the bunker," according to Sean Cronin of THE NATIONAL. Woods "will design the new 18-hole championship golf course in Dubai to be built by Damac Properties and operated by The Trump Organisation." Damac Properties Managing Dir Ziad El Chaar said, "Tiger Woods is one of the most famous and iconic sportsmen in the world who will bring his design expertise and worldwide playing experience to this amazing development."
But the first big project associated with the golfer in Dubai "was never built." The Tiger Woods golf course planned for Dubailand "became one of the biggest casualties of the property downturn" (THE NATIONAL, 12/9). BLOOMBERG's Ross Larsen reported a real estate market crash "brought the Persian Gulf Emirate to the brink of bankruptcy." The hospitality and tourism industries "helped lead a revival in Dubai, sparking new projects." Woods: "I’ve been fortunate to play great golf courses all over the globe. I hope to bring elements of those great courses and others to the Trump World Golf Club in Dubai."
Courses designed by Woods "are under way in Mexico and the U.S." (BLOOMBERG, 12/9). In London, Anna White wrote set within the 55 million square foot Akoya Oxygen resort, the "'Trump World Golf Club, Dubai' will include what the developer claims will be some of the highest premium, residential developments in Dubai overlooking the course, and a top end restaurant and pro shop." Damac Properties Founder & Chair Hussain Sajwani said that growth in the Dubai property market "will slow to single-digit levels for the foreseeable future." Sajwani said that the days of 20-30% annual increases in the property market "were over, and that the 'price levelling' experienced by Damac and other developers in the past six months would continue" (TELEGRAPH, 12/9).
