This is a clip from Dubai tv last week. The dance is from Saudi Arabia and is called "Al Aardhah Al Najdyaah". Al Aardhah means 'the dance', Al Najdyah is relevant to the land of Najd which includes Riyadh and its suburbs, where King Abdulaziz the father of the Saudi Kings was born and started the unification of his Kingdom. So, in the old days when there were lots of wars led by the founder of the Kingdom and this dance is usually performed after winning a battle... they usually will sing "Nehmadallh Jat Aala Ma Netmanna" which means "We are grateful to Allah that we have won such a war". After the wars ceased it became a Saudi traditional dance to be performed on national occasions such as National Day and at the culture festivals such as Jenadyriah. The King will also participate in such a dance as his father used to.
The drums, tassels, swords, outfits and the other decorations are derived from the old days.