GOLF:TIGER WOODS was paid more than €35 million for his work on a course development in Dubai that has since been abandoned because of the collapse in the property market in the Middle East tourist resort, it has been reported.

The Dubai-based Arabian Business magazine claims the world number three signed an agreement with Tatweer, a property developer owned by the Dubai government, on August 22nd, 2008, guaranteeing him $26,166,177 (€19 million) and another $14,583,333 (€10.5 million) within 10 days of his appearance at the official opening of the Tiger Woods Dubai – a golf course and “luxury” property development.

Woods had already been paid €19 million in 2006 when he agreed to “design” a course.

The magazine claims the August 2008 agreement also included a clause guaranteeing the golfer a “one-time fee of $28.8 million” if he agreed to design another course for the developer.

In exchange for the additional fees, Woods agreed to give up his right to own a property on the development, according to the magazine. So far he has received $52.4 million (€38.4 million).

Earlier this week Woods was asked in Dubai to comment on his agreement with Tatweer – which has since been taken over by Dubai Properties Group – but said: “I am not going to talk about that.”

Woods added that he and his representative were planning to meet the developers this week. Woods’ agent, Mark Steinberg, also declined to comment when contacted by the Guardian.

Less than a month after the deal was signed in August 2008, the collapse of Lehman Brothers bank in New York sent the global property market into a downward spiral, with values in Dubai – which dropped an estimated 50 per cent within months – among the worst affected.

The Tiger Woods Dubai resort was subsequently hit by a series of delays until in November last year the Observer reported that work on the resort had been stopped and virtually every member of staff laid off.

Those who remained on site said they expected it to be abandoned – a move confirmed last month by Dubai Properites Group.

“This decision was based on current market conditions that do not support high-end luxury real estate,” the company said in a statement.

“These conditions will continue to be monitored and a decision will be made in the future when to restart the project.”

It added it hoped to maintain its financial ties with Woods.