Dubai, on Saturday, found itself shrouded in thick smoke and flames as missiles and drones descended upon it amid Iran’s war with the UAE.
The Gulf emirate, one of the seven emirates in the UAE, is recognised as the region’s capital for entertainment and commerce, where profitable business agreements can be both finalised and celebrated.
These attacks carry implications that extend beyond simple geopolitical concerns, undermining Dubai’s image as a trade hub in the Middle East.
Was Dubai targeted due to being a financial hub?
Dubai has arguably reaped more benefits than any other city globally from the post-Covid surge in asset values, cryptocurrency, and the rise of remote work.
By leveraging its favorable tax environment and efficient administrative processes, Dubai has attracted numerous bankers from London and American finance professionals.
Its financial institutions have acted as a refuge for Sudanese militia leaders engaged in gold trading, as well as for Russian and Ukrainian expatriates escaping the conflict in Eastern Europe.
Fairmont Hotel hit during UAE Iran war
Despite reports indicating that the five-star Fairmont Hotel was on fire due to interceptor debris, numerous videos imply it may have been struck by an Iranian drone.
Footage depicting a drone crashing into Dubai’s Palm Jumeirah seems to correspond with that of a drone impacting the headquarters of the US Fifth Fleet base in nearby Bahrain.
Another video captured from a balcony seemingly illustrates the drone colliding with the Fairmont Hotel.
“This very frame is already being circulated in every group chat, every boardroom, and every family WhatsApp thread of every expatriate who opted for the UAE over Singapore, London, or Zurich,”, an X user commented on the escalating situation.
Burj Khalifa evacuated amid Iranian drone attacks
UAE authorities had to evacuate the Burj Khalifa in Dubai, recognised as the tallest building in the world, due to the developing war situation with Iran.
At the same time, Al Maktoum International Airport, celebrated as the busiest in the world, has halted all flights indefinitely.
The remainder of the Arabian Gulf is essentially competing for a share of Dubai’s commercial market, appealing to the same affluent global demographic, albeit with varying marketing approaches: discreetly wealthy Doha, emerging Riyadh, and conventional Muscat.
Read more: PM Shahbaz speaks with UAE President on Gulf tensions after Israeli strike
