Nakheel, the developer of Dubai’s iconic Palm Jumeirah island, denies the claims that the island is sinking. Fugro-owned NPA Satellite Mapping conducted a speculative survey of the island in 2003 and 2008, which shows that some subsidence and that the island is susceptible to flooding as sea levels rise.
Read more about this in this story from Property Wire.
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Sinking of the jetties constructed over the sea bed is quite common and well recognized phenomenon. The 5 mm quoted does not exceed expected subsidence.
As the the rising sea levels – I do not think a sattelite mapping company is the right source to predict or make claims as to the magnitude and expected time frame. I think Al Gore could be better source…