The United Arab Emirates has announced a two-day suspension of trading on its main stock exchanges in a bid to shield financial markets from potential turmoil following repeated Iranian strikes on the country.

In a statement, the UAE’s Securities and Commodities Authority said that the Abu Dhabi Securities Exchange and the Dubai Financial Market will remain closed on March 2 and 3. The regulator added that it “will continue to closely monitor developments in the region and assess the situation on an ongoing basis, taking additional measures if necessary.”

Strikes Hit Dubai and Abu Dhabi
Since Saturday morning, Dubai and Abu Dhabi have come under hundreds of missile and drone attacks launched by Iran in retaliation for U.S.-Israeli strikes. Most of the incoming projectiles were intercepted, and reports of casualties and material damage have so far been limited.

Even so, the scale of the assault has unsettled residents and cast a shadow over the UAE’s carefully cultivated reputation as a stable financial, commercial and tourism hub in a volatile region.

Property, Banks and Tourism in the Crosshairs
Analysts at Bloomberg Intelligence, Edmond Christou and Salome Skhirtladze, warned that the attacks could trigger a “demand shock” in the UAE property market, jeopardizing absorption of roughly 350,000 new homes slated to come onto the market.

Footfall at flagship retail and tourism destinations is also at risk, including the Dubai Mall, which attracts around 120 million visitors annually. The broader retail and hospitality sectors could feel the strain if security concerns persist.

Property developers such as Emaar are seen as particularly exposed, alongside UAE banks with significant cyclical exposure to real estate and consumer activity.