Construction costs of Donald Trump's new golf resort in north-east Scotland have been cut from £1bn to £750m.
The US property tycoon said the recession had reduced the estimated cost of the scheme, located 12 miles north of Aberdeen, and that he was no longer relying on bank funding to finance the initial stages.
Trump is investing an initial £41m in the project, which involves construction of two championship courses, a 450-bedroom five-star hotel, golf academy, 950 holiday homes, 500 private family homes and 36 luxury golf villas.
The scheme was granted planning permission by the Scottish government last September.
However, a protest group called Tripping Up Trump claims to have purchased a large chunk of land adjoining the proposed golf courses which could impact the developer's plans.