UBP Wealth Management, based in Geneva, confirmed that Dubai's economy may face short-term pressures, but stressed that the emirate will recover quickly and maintain its position as a safe haven for investments in the region. Fahd Iqbal, Head of Investment Services at UBP, said in an interview with CNBC that residents who settled in Dubai before the COVID-19 pandemic show a stronger attachment to the city and a long-term focus. A large proportion of them come from regions accustomed to geopolitical risks, making them less likely to leave compared to new immigrants from Europe and North America.
