Nakheel, the Dubai government property company, is in talks with banks to devise financing for developers on The World, one of the largest global offshore reclamation projects, to kick-start construction.

Nakheel has spent Dh11bn (US$3 bn) creating 254 artifical islands off the Dubai coast, of which 175 have been sold. But some of these buyers have now missed instalments and asked for help in funding their investments because of the global financial crisis.

The National