Dubai-based Damac Properties is building Akoya Oxygen, a new 55 million square feet master development in Dubailand, Dubai, UAE, on the land which as previously allocated to Tiger Woods Dubai, a senior company official told Zawya Projects in an exclusive.
"The land used to be called Tiger Woods Dubai, and now we have a new master plan (Akoya Oxygen) on it," Ziad El Chaar, Managing Director, Damac Properties, said without giving details of the project value.
"Most of the holes completed for the golf course require a lot of rework and we are not sure if we will retain it," he said adding that the championship golf course is set to open by end-2017.
The developer has tied up with The Trump Organisation to develop the Oxygen golf course and will soon announce the projects' designer.
Though construction had commenced on $1.1 billion Tiger Woods Dubai, it was suspended indefinitely in 2011, citing 'difficult market conditions being at the time.'
The 55 million square feet project, a partnership between Tatweer, a subsidiary of Dubai Holding, and Tiger Woods Design, was to include 287 villas and mansions, a boutique hotel and clubhouse. The golf course, a 7,800 yard, par 72 design, was due to be completed by September 2009.
However, Dubai Holding, the parent company of Tatweer, has not officially announced cancellation of the project.
Currently, Damac is in talks with Road and Transport Authority (RTA), Dubai to finalize the road network.
El Chaar said all the master plans have to go through revision from Dubai Electricity and Water Authority, Dubai Civil Defense, Dubai Police and RTA as the authorities eventually figure out how to link the grids - power, roads, public transport - to each of the master developments.
The master development will include green open spaces, organic market stalls, desert-style wellness center and leisure and entertainment offerings.
Damac Properties has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30, 2014, said the UAE based English daily, Gulf News.
© Zawya Projects News 2014
