About 700 people who invested in homes in Nakheel’s delayed Palm Jebel Ali say they are unhappy with the Dubai World-owned developer’s offer of alternative properties, and plan to hire lawyers to argue their case.

The news follows Nakheel having outlined proposals to property buyers after receiving about $9bn (Dh33.05bn) worth of fresh funds from the Dubai Government to revive stalled projects and settle some of its debts.

Nakheel said investors in longer-term projects, such as Palm Jebel Ali, were offered “more options in relation to their investments in these projects”.

These included “staying in the project, swapping into near-term projects, consolidating into other owned property [or properties], consolidating into a third-party property or receiving credit that will be useable against any property at anytime and redeemable in five years”.

The National