That's what the so-called Palestinians have been saying for decades.
This is actually not good news. UAE, along with Turkey, was one of the few prosperous Muslim countries that didn't have either a petrol or narco based economy. The ruler there (name escapes me), is fairly progressive as far as Muslims go. It would have been nice to actually have a country in that region that had an economy based on tourism, trade and retirement living. It's too bad that it appears it was a house built entirely of smoke and mirrors.
Take it as a leading indicator of what's really happening in the petro-kingdoms. UAE was where the elites did their banking and such, and took vacations in a slightly-less-restrictive environment.
This is a signal that all is not well in Saudi, Kuwait, and the rest. Their oil revenues are flat and their populations are growing. Each oil sheik has multiple wives and many children, each of whom expects to live as well as daddy, on a fraction of the pie.
The collapse will not be pretty.