Resilient organizations and academic institutions have been identified as contributing immensely to resilient communities. The majority of organizations showing preparedness to mitigate the impact of COVID-19 have deployed an efficient organizational resilience framework. Yet, there is little research on organizational resilience, and the conceptualization of resilience as a complex variable has not been achieved. Focusing on the higher education sector in the UAE during the COVID-19 pandemic, the current study aims to contribute to this promising research area by exploring and expanding a theoretical model on organizational capabilities that constitute organizational resilience. A qualitative phenomenological research design was utilized, where a total of 13 executives from reputable universities were interviewed, followed by a thematic analysis of the data. Findings provided deep insight into the status of universities in the UAE that are currently in the early adaptation stage of the current crisis. Organizational resilience was conceptualized as a process that comprises three successive stages (anticipation, coping, and adaptation), five key antecedents (knowledge, resources availability, social resources, power relationships, and innovative culture), and two main moderators (crisis leadership traits and employee resilience). Important findings were also identified on the needed crisis leadership styles. Recommendations for practice and research are discussed.