Donald Trump is betting some serious cash on Tiger Woods -- hiring the golfer to design an 18-hole course at his massive property in Dubai.

Trump announced the partnership this morning ... saying Woods "will be a tremendous asset in developing the course at the Trump World Golf Club, Dubai."

Donald is taking a pretty big chance with Woods -- since Trump has a reputation for running some of the nicest courses in the world.

Tiger is new to the design game -- with his first course to open in Mexico by the end of the year.