No Chance for a Timeshare, Fractional or Golf on a Tiger Woods Course Yet
Thursday, February 3, 2011
Tiger Woods’ third attempt to design a signature golf course has now hit the skids, with all work on his planned course in Dubai at a full shutdown. Tiger’s Al Ruwaya golf course was planned to be the showpiece of an upscale resort community with vacation ownership and private residence properties described as villas, mansions, and palaces. But the struggling Dubai economy and perhaps the dwindling Tiger Woods brand has put this project in limbo.
Currently only about six golf holes are completed on the course and no construction has commenced on the planned luxury hotel and spa, vacation residences, or other amenities of the resort. Although spokespeople for the project say construction is likely to resume in the future, let’s look at the reality. Right now, this ‘golf course resort’ is nothing more than a half-dozen golf holes surrounded by desert. Golf fairways and greens are typically high maintenance real estate, requiring daily attention to keep them playable. Irrigation needs alone are significant for desert holes and without the revenue of rounds of golf coming in; these six already-developed holes are currently a financial drain. Now consider the cost of mobilizing the construction crew. Stopping a construction project, pulling the crew, and releasing the heavy equipment to other projects comes at a huge price. Tiger Woods Design announced its foray into Dubai golf course construction in December of 2006. Unofficially, work has been at a standstill for at least six months.
In 2007, Woods announced his first US golf course at The Cliffs at High Carolina ® Residential Community in North Carolina. As the real estate and lending markets declined, design of the North Carolina course also stopped. The Cliffs then borrowed roughly $100 million from its current residents and property owners (many of whom are only future residents) in order to finance the design and construction of the course and construction of the residences.
According to a March 28, 2010, New York Times article, “Jim Anthony, the founder and chief executive of Cliffs Communities, said that about three-quarters of the timber had been removed from the course, although the stumps remain in most places. The company is seeking permits to allow grading and to build on a wetlands area.”
The same New York Times article points out both the desirability of owning real estate adjacent to the only Tiger Woods designed golf course in America and the scandals in Tiger’s personal life. Although overall bad for his brand, his personal trials may actually benefit the North Carolina development causing it to, “remain the only Woods-designed course in the United States for some time, adding to its cachet.
Mexico Resort and Course Development
The other Tiger Woods’ golf course project currently in some state of development is located near the resort town of Ensenada, Mexico. Announced in 2008, the plan for the Punta Brava (Wild Point) resort and community called for a Pebble Beach-like golf course design overlooking the Pacific Ocean and the Bay of Todos Santos.
In Mexico, like Woods’ other to ventures into golf course design, development and construction is far behind schedule for the course, hotel, villas, and what the developers stop short of calling timeshares or fractionals and simply call, “partnership villas.”
Timeshare Golf You Can Enjoy Now
While it looks like you may have to wait a little longer to play golf on a Tiger Woods designed course, there still many fantastic resort golf courses you can play. Here’s some destinations to consider:
Dubai Timeshare Resales and Rentals with golf at the Nick Faldo designed courses at the Emirates Golf Club, host to the PGA European Tour sanctioned Omega Dubai Desert Classic and the Omega Dubai Ladies Masters.
North Carolina Timeshare Resales and Rentals where timeless golf opportunities include the Country Club of Whispering Pines or Firefox Golf and Country Club and the legendary nearby Pinehurst. Or try Quail Hollow, home to the 2011 PGA Tour Wells Fargo Championship or Sedgefield Country Club in Greensboro, home to the Wyndham Championship.
Mexico Timeshare Resales and Rentals and golf at The Shark and The Golden Bear at Puerto Los Cabos resort; Greg Norman’s El Camaleon Golf Course; or the Fairmont Mayakoba Resort and El Camaleon Golf Club to name only a few great golfing possibilities.
