Plans for Tiger Woods' Dubai Course Go Bust

The big plans for a Tiger Woods signature golf estate, including a boutique hotel and sheik-style palaces, have been shelved as Dubai's financial downturn claimed another major project launched during the eye-popping boom years.

A statement Monday by the golf course developer - part of a conglomerate controlled by Dubai's debt-squeezed ruler - said "market conditions" were behind the decision to suspend work on The Tiger Woods Dubai on the city's desert outskirts.

"It's been put on hold for right now. A lot of projects are out there," Woods told The Associated Press on Sunday after he finished his season debut at Torrey Pines. "It's still there. We've got six completed holes and a few that were about to be grassed before construction was halted. Everything is on hold."

The golf course developer, part of Dubai Properties Group, left open the possibly that work could someday resume.