The resort's developer has said in a statement that, the construction work on The Tiger Woods Dubai has been unresolved forever. It is a multi-million dollar golf and property development. This cost of the project was of 700 million pounds.
Dubai Properties Group is a subsidiary of Dubai Holding; it had planned the resort with Tiger Woods. Earlier, he was in the number one rank in the world and he has designed the development's golf course.
Unfortunately, the company has said that the project is now inoperative. This is because of the complex market conditions for lavishness developments.
The suspension of the project can be verified by Tiger Woods Dubai, a member of Dubai Properties Group as stated by Dubai Properties Group.
The decision to stop this project was based on current market conditions which do not support high-end luxury real estate. The conditions will be scrutinized and then a decision will be made in the future when to restart the project again.
In spite of this suspension they would continue to maintain a good relationship with Tiger Woods and his organization. The Group has started that, they may further preserve their commercial contract together.
