I'm afraid the jury's still out on that one.
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The Drowned City of Skalla is an upcoming dungeon in Final Fantasy XIV: Stormblood, to be released in patch 4.1, The Legend Returns.
Long ago, in the dawn of the Fifth Astral Era, the modest nation of Skalla was founded in the land of Gyr Abania. Over the span of several centuries, its people constructed a grand city of stone at the bottom of a steep-walled ravine, but even this natural defense could not protect Skalla from destruction during a terrible age of war. When the great flood of the Sixth Umbral Calamity later swept across the realm, the hollow ruins of the city were lost to sight, its remnants submerged beneath a raging sea. Haunting the depths of what is now Loch Seld, Skalla's silent walls lure adventurers into the salt-laden waters with the promise of mysteries unsolved and treasures unclaimed.