Dubai: Nakheel, the Dubai-based property developer, is in talks with Zanzibar authorities to develop a giant offshore project, according to a top official.
Nakheel's talks with Zanzibar have included plans to build luxury hotels, an offshore banking zone and an airstrip.
"It is just like what they have done in Dubai," Zanzibar's Minister of Tourism, Trade and Investment Samia Hassan told Gulf News yesterday. "Nakheel came to Zanzibar and they wanted to have a big piece of land to develop a major hospitality industry project. They intend to have hotels, they intend to have offshore banking, they will be having an airstrip," she said.
But Zanzibar officials have told Nakheel that they can only offer 20 hectares of land for its project, which is still under discussion. "It is an island. We do not have such a big amount of land," the minister said.
The company has agreed to take whatever land Zanzibar can offer. A senior Nakheel official declined comment. Nakheel has so far not discussed with Zanzibar officials the possibility of reclaiming land from the sea.
The offshore banking centre proposal includes creation of facilities that would attract foreign financial institutions.
Nakheel officials are expected to visit Zanzibar for a new round of talks soon.
