He will team up with LPGA star Amy Alcott, a five-time major winner, on the project and has also promised to relocate to the Brazilian city while the course is under construction.
The work will create around 60 construction jobs over the course of the project.
But Dubai's financial struggles have affected many golf business such as the Tiger Woods course where construction has been put on hold and is now believed to be up for sale.
The course faced delays obtaining environmental permits, but the permits have been secured and course construction is expected to get under way this year.
FORBES: Tiger Woods Dubai Is Halted, But Other Courses Move Forward
Dye told me another story, which took place during the construction of the Straits Course.
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And there will be, of course, the effect of US construction slowly but surely starting to recover.
The construction costs of the course, running into the low millions of dollars, will depend on which design is chosen and the necessary associated infrastructure.
Scottish Building Federation Executive Director Michael Levack thinks that the latest figures "paint an overly optimistic picture of the construction sector's performance in the course of last year".
In all, 1.1m tonnes of earth and rock were excavated in the construction of the 2010 course, flattening out the harsh gradients of the back nine, and using the aggregate to raise the opening holes above the level of the Usk's flood plain.
Of course, that ignores the plight of the 70, 000 construction workers who also lost pay.
Russell Phillips, Celtic Manor's facilities and construction chief, has made it clear that the course is ready now and should be holding test events soon.
It has been a long-time coming as course construction stopped in 2009 with six holes completed as the high-end real estate market in Dubai fell off a cliff when the economy soured.
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And of course a growing tax base would make it much easier to cover the construction costs.
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The rest, including a village and a Jack Nicklaus signature golf course, is under construction.
Groundbreaking is scheduled for October (a design turnaround time that is Olympic-sprint quick) with construction to be completed two years later and a big-time test tournament mandated on the course in 2015.
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