form into the shape of an orca (reminiscent of Shamu). In 2013, State news agency WAM said a decree by ruler Sheikh Mohammed bin Rashid al Maktoum said a special legal committee would be established over the building bubble. This included using funds following liquidation of scores of cancelled building projects to repay investors who lost billions in the Emirates property market. It was suggested that this would settle disputes related to projects that had been officially cancelled by the Real Estate Regulatory Authority (RERA). In November 2014, 74 owners on Palm Jebel Ali wrote to the Ruler of Dubai via the Ruler's Court regarding the stalled PJA project. 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, Sanjay Manchanda, CEO of Nakheel, confirmed that there are no immediate plans to restart development of the project. In July 2021, it was announced that Nakheel planned to restart the project by considering plans involving building villas on the island. In April 2022, reports began to circulate that Nakheel had petitioned the Dubai courts and secured a hearing in the absence of investors (as no notice given) to secure a judgement to formally cancel the Palm Jebel Ali project, which was apparently granted on 19 May 2022. Consequently 724 previous villa contracts were made null and void as per the judgement, with the aim to return only the original investment, without recognition of any secondary market transaction premium paid, or compensation as per the clause in the Nakheel property contract (Sales Purchase Agreement). Furthermore, no account was made of any opportunity cost including potential return on investment including even compound interest. In September 2022, Nakheel announced a rebranding exercise. Soon after, it revealed its plans to relaunch Palm Jebel Ali. It has been reported in the Wall Street Journal that high vaccination rates and zero taxes is making Dubai a pandemic boomtown, with many wealthy Russians expected to move there, now access to Western property has become significantly more challenging with International bans and enhanced anti-money laundering laws. Recently, it was revealed that Nakheel is nearing completion of $4.6 billion of debt restructuring to relaunch its landmark projects. “Nakheel is paying a lower spread and getting more money for new projects, including Palm Jebel Ali,” stated one banker on the