brands under fire
Posted by Shirley Brady on January 31, 2011 12:00 PM
In 2008, The Tiger Woods Dubai, a high-end resort featuring a Woods-designed championship golf course, was announced. Work on the luxury development, which was slated to include residences valued at more than US$10 million each, continued throughout the golf pro's annus horribilis, but work has just been halted.
“The decision was based on current market conditions that do not support high-end luxury real estate,” Dubai Properties, a unit of Dubai Holding, said in a statement statement to Bloomberg. “These conditions will continue to be monitored and a decision will be made in the future when to restart the project.”
Woods, who's in the midst of a personal rebranding campaign, kicked off the project at an event in Dubai in August 2008: