Why Is Palm Jebel Ali Still Empty? (Dubai's Artificial Island)

In this video we will be discussing why Palm Jebel Ali (One of Dubai's man made islands) is still empty.
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Why is Palm Jebel Ali still empty?  

Palm Jebel Ali is an artificial island in Dubai (UAE), initially planned for construction in October 2002 and has since been under suspension.  Creative Kingdom provided master planning services for the island and Leisure Quest International (USA) developed entertainment and attraction concepts. The project, which is 50 percent larger than Palm Jumeirah, is proposed to include six marinas, a water theme park, homes built on stilts above the water, and boardwalks that circle the "fronds" of the "palm" and spell out an Arabic poem by the Sheikh Mohammed bin Rashid Al Maktoum. In December 2006, the breakwater was completed and work on infrastructure began in April 2007. Until most infrastructure work is completed, major construction will not start. The work was suspended following the financial crisis in 2008 and the developers Nakheel confirmed that there would be no work in the near future on development.  Nakheel called for the design of one of the Palm buildings on a 300 000 m2 area by several architects. The victorious design was a Royal Haskoning building, which also worked on various other Dubai projects.  The residential villas to be built and sold by the developer were designed by Serendipity By Design LLC, a firm based in Dubai, United Arab Emirates. The villa types were to be categorized by size and style; 40 series (the largest), garden villas and signature villas.  
In the first signs of a slowing Dubai property market, the prices of properties being sold on Palm Jebel Ali were reported to have fallen by 40% in the two months to November 2008, with the fall being attributed to the Financial crisis of 2007–2010. In March 2011 Nakheel offered refunds to property investors. The developer of Palm Jebel Ali plans to accommodate over 250,000 people.  
The first phase of four theme parks on the Crescent was to open in the original schedule by 2021. The Busch Entertainment Corporation will develop and operate these planned parks, which are jointly known as the "World of Discovery," The parks include SeaWorld, Aquatica, Busch Gardens and Discovery Cove. The World of Discovery will be located at the top of the Crescent, which will form into the shape of an orca.
In November 2014 in relation to the stalled PJA project, 74 owners on Palm Jebel Ali wrote to the Dubai ruler via the Ruler's court.
On 16 March 2015, Nakheel Chairman, Mr Ali Lootah confirmed that Nakheel remains committed to the project long term but asked "what can I do" for original investors.  In October 2018, Nakheel CEO, Sanjay Manchanda confirmed that no immediate plans were in place to resume the project's development.

Nakheel offered investors the option to swap their stakes to its other projects in Dubai such as Palm Jumeirah, or stick with a revised payment plan. However, in November last year, 74 investors wrote to Mohammed Al Shaibani, the general director of the Ruler’s Court and CEO of Dubai Investment Corporation, urging him to look into the matter.
The ambitious Palm Jebel Ali project of Nakheel will not be cancelled and will continue to be developed "in the long term." Ali Rashid Lootah told Gulf Business in their exclusive interview that the market depends on the launch of the project.  According to Lootah, the developer offered investors all the possible options soon after the project was stalled. “What can I do if they are not happy with anything? We gave them the option to shift to Palm Jumeirah, which was fully developed. Many investors took that call and the price tripled after they moved there,” he said.

“Some people also swapped into other properties. But some people just want to wait – what can I do?,” he added.
Nevertheless, he confirmed the company began to start certain portions of the Jebel Ali Waterfront project.  The company announced in January that it plans to build 80 flat houses on the site.  It is also developing nearly 800 homes at the Badrah and Veneto communities within the Waterfront. Nearly 600 townhouses and apartments will cover eight low-rise buildings, an affordable housing project, namely Badrah. It will also house offices, public and educational facilities and retail and leisure facilities. Veneto will comprise villas, city halls and apartments in a residential neighborhood.
 


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