Damac have a huge amount of projects, a lot in random areas surrounded by undeveloped land which will stay that way so no point in building there. I recon they are trying to move investors to projects such as ocean heights, etc, which are well on their way and cancel those which won't be built.
We heard rumours that Damac were trying to get people to move FROM this project into others and other rumours saying the opposite. If there are enough people paying then they will build this. There are also rumours of a redesign down to 70 floors but nobody really knows anything.