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DUBAI PROPERTY BENEFITS FROM CELEBRITY ASSOCIATION

Friday, 16 Jan 2009

There is not much doubt that if a celebrity’s name is associated with a property in Dubai, this is a major contributing factor in the amount of profits the development will make. Dubai Golf’s director of business development, John Kelliher, says, “'Just having the Tiger Woods signature on any golf course adds value and profits not only to the course but to all the property surrounding it.” Dubai Golf is responsible for the Emirates Golf Club and Dubai Creek Golf development projects.

Tatweer, which is a member of Dubai Holdings, is developing the Tiger Woods Dubai. Woods himself designed the course, which spans 55 million sq ft of the Dubai property in Dubailand, the city’s biggest leisure, tourism, lifestyle and entertainment destination. A spokesperson for Tatweer claims that the new course will be launched in September this year, and is going to incorporate 197 homes.

No other comments about the project were forthcoming from Tatweer, whose spokesperson claimed that the development was ‘very exclusive’. Mr Kelliher added, “The prices of property are 100 per cent influenced by the Tiger Woods name.” Whilst the fact that the amount of profits that a property in Dubai makes if it has a star’s name associated with it will be more is not in question, working out the true efficacy of the star name’s profitability is a little harder.

Nakheel’s director of sales, marketing and customer service, Manal Shaheen, said that it’s not so easy to determine whether or not having a celebrity name associated with a Dubai property has a direct bearing on its value, he has noticed a significant rise in the value of Dubai accommodations in The Palm Jumeirah resort during the past year as it moves from the drawing board to a completed product and families take up residence and experience the kind of lifestyle that the island offers.