I guess the two biggest questions/concerns those of us who are former "canal view" owners and now newly discovered "park view" owners have is:

1) what effect will this have on the market value of the units along the former canal (now park), and

2) what effect will this have on the ongoing maintenance fees Nakheel will charge the owners to maintain this park over the years.

With respect to values, we are in unknown territory. I have asked a property agent I deal with in Dubai to provide me with the last 6 sale prices for D-type units (only because that is what I own but it should be indicative of sale price trends in general along the former canal) before the announcement was made (to form a baseline price). Over the next few months I hope to compare pre-canal prices with post-park prices to get an idea of the impact.

As far as maintenance costs, I assume this will increase the yearly cost, as it must be more expensive to maintain a park over a canal? How much will be interesting to see, but I can see where in the years ahead it is highly likely the owners on The Palm will form an owners association (similar to other developments in Dubai) in an attempt to provide some transparency to the charges Nakheel will undoubtedly heap upon us.