Trump 'delays' golf resort houses

Trump 'delays' golf resort houses

29th December 2008

US billionaire Donald Trump's plans to build 500 new homes in Aberdeenshire are being put on hold because of the slowdown in the property market.

The tycoon's lawyer said the golf courses at the Menie Estate, north of Aberdeen, remained "full speed ahead".

George Sorial, who helped steer the resort through a two-year planning process, said the housing could take several years.

The plans were finally approved in November after a public inquiry.

They were originally rejected by an Aberdeenshire Council committee before being "called in" by the Scottish Government.

Mr Sorial said: "The way we envisage it is that the golf course is full speed ahead.

"With the golf comes a club house and maintenance facilities, then the hotel.

"The homes could take several years. We can't help but acknowledge the slow-down in the market.

"We have to sell them, so we're not going to build anything until it feels right.

"Markets will change. Whenever we have a cycle like this, a bad real estate market is followed by a period of rapid, aggressive growth.

"There is, and will be, a demand for homes."

Interest in membership of the golf resort and the future homes has been "overwhelming", Mr Sorial said.

He suggested there could be more projects to come.

"I wouldn't be surprised if we made some announcements in 2009 all over the world," he said.

"When we have a market like today, there's a lot of opportunity for a developer with cash.

"We could be talking about Scotland and the UK. People will be pleasantly surprised. This time next year, there will be no doubt about our intentions to Scotland."

From: BBC