The failure of Dubai's 10 billion artificial islands

Dubai's artificial islands are one of the largest development projects in history and are a key part of the city's history. After being announced in 2002, these projects were expected to be completed in 2010. But all that changed after the 2008 financial crisis, with only one of the islands fully completed. The Palm Jebel and The World have been permanently put on hold due to the slowdown in the real estate market. Twenty years later, these plans are still completely abandoned, with reports indicating that the world's islands have begun to sink back into the Persian Gulf.

But all that changed recently, when developer Nakheel Properties announced a $5 billion plan to save these islands. Therefore, why are they redeveloping this massive real estate project, and will these massive real estate projects ever be fully completed?

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