Jebel Ali firm plans theme park in Pakistan

Jebel Ali-based AND Gulf has confirmed interest in developing a Disney-style theme park in Pakistan. If the company does go ahead, the project is estimated to cost Dh185 million.

Two beachfront sites in Karachi have been shortlisted. A decision could be taken as early as this month, a senior company official said. A company delegation will meet representatives of the Board of Investment, Ministry of Communications and tourism chiefs during its visit to Pakistan next week.

The proposal was submitted in early October. Both shortlisted sites are undeveloped. The project could feature a shopping centre, hotel, golf park and white knuckle roller coaster rides.

"We conduct our business on Islamic financial principles. So if somebody wants to participate in the project, it has to be either on a partnership basis or by providing zero-interest financing," said Mohammed Tayyab, Gulf administration director.

"We are looking to invest $50 million of our own funds. But no one in the private sector can do this sort of project on their own. We need the support of the Pakistani government and  it has been very cooperative." AND Gulf, promoted by local investors, makes weight and measuring systems at its free zone facility.

As for the reason the company is venturing into an unrelated sector, Tayyab said, "We feel that Pakistan has a vacuum of tourist attraction places which has to be filled by the government. But due to a lack of resources that is not happening."

"We have been planning this for five years, but are now moving out of the planning stage. We approached the Pakistan government two months ago and it has been enthusiastic."

The amusement park will have 10 islands with different themes, including an area devoted to Pakistani culture. "We have selected Karachi as our destination and have visited a number of locations and there are many potential sites," he said.