Thaindian News

By Gina Gomez
Feb 5, (THAINDIAN NEWS) Ace golfer Tiger Woods’ new posh estate in Dubai has been shelved owing to the economic downturn of the world. The media outlets reported that the golf estate is a $1 billion project and it would have been surrounded by 75 mansions, 100 villas, a boutique hotel, 22 palaces, 30,000 imported trees, and a golf academy! However, the developers of the estate have told a reputed media outlet that the market condition of the estate is not appropriate.

The golf course developer released a statement on Monday, where it was stated that the Dubai project has been put on hold right at this time. The statement also read that the developers would complete the pending projects on future. The developers stated that they have already made six golf holes on the ground and few of them were about to be grassed but owing to some complications, they had to halt the project. However, the statement also read that the authorities would decide in future the apt time to start the project after all the conditions are monitored.

This multi-million project’s first phase was supposed to end in 2009 but the worse condition of Dubai market halted the project in its very beginning. The development officials previously said that they would open theme parks in the estate but nothing worked out as of now. On the other hand, though the project is shelved, the developers are optimistic about the fact that Tiger Woods would retain the “commercial agreement” with the company. Along with Tiger Woods’ estate, many other costly projects are also suspended owing to the inappropriate market conditions.