A number of Gulf developers have been discussing property developments in Senegal during the visit of President Abdoulaye Wade to Dubai in April.President Wade has been looking for partners for the development of a new administrative city to house the Senegalese government. The exact plans for the new development remain undetermined as yet but a number of companies from Dubai have lined up to develop property in the new free zone, close to the country’s new airport and about 40 km from Dakar, the present Senegalese capital. Grants of development land in the Senegal economic Zone (SEZ) are being negotiated for Jafza International, and its subsidiaries Dubai World, Limitless and Economic Zones World, Nakheel, and Istithmar.

Among the Emirates business people meeting with President Wade was Dr Abdulla Shaaban, CEO of the Abu Dhabi branch of Tameer of Bahrain. Tameer, also known as Al Khaleej Development Company has assets and projects under management of $3bn. Up until now the company’s interests have been concentrated on Bahrain and to a small extent in neighbouring gulf states.

Read the rest of this entry »