Tim Lobb writes… I’ve been asked many times recently whether TPL – and the wider golf development industry – are seeing the green shoots of economic recovery?
Well, I can’t say for certain the economy has turned a corner and we are on an upward trend, but we have certainly had a significant increase in enquiries from a variety of new projects suggesting, at the very least, investors and developers are looking ahead.
In the past two months we have been contacted by developers involved in projects in North Africa, The Mediterranean and the Caribbean.
In recent years, we have undertaken a great deal of work in the Middle East and, despite the well publicised difficulties in some countries, work continues on new projects. We recently won the contract to design a championship golf course for the Blue City development at Al Madina A’Zarqa in the Sultanate of Oman, where a number of significant developments are underway.
They have the benefit of learning from the experiences of other regions of the Middle East where golf has developed rapidly over the past 20 years.
What is becoming clear is that investors and developers are now proceeding with greater caution and diligence. That means they are putting more thought into the design of their golf courses and the architect they appoint. Until recently, there was a focus on high-end developments and signature designers, whatever the cost. A more mixed approach seems to be emerging with a greater emphasis on the quality of the golf course design, and not just how it fits into the plan for the real estate development.
Golf course design takes time – often 12 months – and the smart developer is now looking to move things forward. Those that have started construction are benefiting from some of the lowest construction costs the industry has seen in a long time. So there are incentives to taking steps now.
However, developers need to take a long term view, demanding good quality, sustainable design for their golf courses, employing architects who can deliver value for money and a return on investment. That is the path to true economic recovery.
TPL's contract with Blue City indicates movement in the Middle East market.
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