Posts Tagged ‘Dubai’

The Tiger Woods Dubai, a US$ 1.1 billion golf course and luxury house development created by Tiger Woods, has been suspended indefinitely, according to an announcement by the property developer Dubai Properties.

The Tiger Woods Dubai was scheduled to open in late 2009 but ran into difficulties when the international economic crisis struck in 2008 house rates in Dubai crashed and, as a result, the opening of the Tiger Woods golf resort was pushed back on several occasions.

In November final year it was revealed that construction work on the two hundred and ninety two residential properties had in no way 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 with regards to the suspension of the project “This choice was based on present marketplace situations that do not support high-finish luxury true estate.

These circumstances will continue to be monitored and a decision will be produced in the future when to restart the project”.

There are, nevertheless, robust doubts that The Tiger Woods Dubai will ever be completed, due to the big number of high-finish home developments abandoned in Dubai final 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 nicely as receiving royalties on home sales and his selection of mansion on the development, as soon as completed.

In an interview with the Associated Press, Tiger Woods commented “It’s been place on hold for correct now. A lot of projects are out there. It is nevertheless there. We’ve got six completed holes and a couple of that had been about to be grassed prior to construction was halted. Every little thing is on hold.”

Even by Dubai’s requirements 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 currently been sold and, at this time, it is not clear no matter whether investors will have their deposits returned.

In the fourteen months because his infamous car crash outdoors his Florida property, Tiger Woods has endured the 1st season of his golfing career with no a win. In the wake of the vehicle crash scandal he lost several of his biggest commercial sponsors including American telecoms business AT&ampT, monetary firm Accenture and Gillette.

Now it appears the Tiger Woods brand is suffering additional setbacks.

Report source…

Rebecca Smith
Ocean Villas Group

Rebecca Smith is investment and real estate journalist for Ocean Villas Group, based in Singapore.

Ocean Villas Group are specialists in life-style and investment home globally and are committed to supporting investors in each the emerging and established house markets across the globe.

Go to our blog for additional house and investment news globally…. http://weblog.oceanvillasgroup.com

 

Golf News–Karlsson the king in Dubai 

With a birdie four on the par-5 second play-off hole, Robert Karlsson landed the Dubai World Championship at the Jumeirah Golf Estate’s Earth course, eclipsing Ian Poulter’s hopes of back-to-back European Tour wins following his Hong Kong Open title.
Pitching close for the third successive time on the 18th shoot-out hole, having first done it to tie Poulter in regular play on 14 under par and again when the pair replayed the hole, the tall Swede claimed his 11th European title and his second this year, taylormade burner superlaunch irons, having earlier won in Qatar.
For Poulter it proved a disappointing finish, when he pitched short, then when marking his ball dropped it and moved his coin, incurring a shot penalty – effectively leaving Karlsson two putts for the win from three feet. 
“There’s always positives to take, but right now, I’m not seeing them,” admitted Poulter immediately afterwards, having led into the last round then grinding hard to fin

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ish with a 70 to tie Karlsson.
The turning point for Karlsson came as early as the third hole when he holed his full shot from the fairway for an eagle two, though Poulter chipped in at the 12th from off the green for birdie.

Martin Kaymer tidied up the Race to (taylormade r7 cgb max driver) Dubai and one million Euro bonus, finishing on six under par, alongside his rival Graeme McDowell, who finished with a flourish but couldn’t quite achieve the extra cash he need to overtake the German.

 

“It’s been a fantastic season for me, ” said Kaymer.

“To win my first major and to be part of the winning Ryder Cup team is way above my expectations.” 
Lee Westwood, the No. 1 player in the world and last year’s winner, shot a four-under 68 and shared third with Spaniard Alvaro Quiros, who fired a 67 one behind the leaders and re-claim his place in the Tour’s top 15 for all majors in 2011.

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