Dubai properties puts woods development on hold

Dubai Properties, a unit of Dubai Holding, has said its Tiger Woods residential and golf course project has been suspended due to poor market conditions for luxury developments, Reuters has reported.

The developer had planned the resort with Woods, a former world number one, who was to have designed the golf course.

"This decision was based on current market conditions that do not support high-end luxury real estate. These conditions will continue to be monitored and a decision will be made in the future when to restart the project," the developer said in a statement.

Source: AMEinfo.com