Dubai leads the global greenfield FDI ranking with $5.7 billion investments
Dubai continues to shine as the world's top destination for Greenfield Foreign Direct Investment (FDI) projects, attracting a staggering 511 greenfield projects in the first half of 2023.
This impressive feat, as reported by Financial Times "FDI Markets" data, places Dubai firmly at the forefront of global investment destinations, surpassing Singapore by a substantial margin of 325 projects.
Dubai’s growth in global share
Dubai's global share in attracting Greenfield FDI projects shot up to an impressive 6.58% during the first half of 2023. This marks a substantial increase from 3.83% over the same period in the previous year.
Dubai’s Economic Agenda D33!
These achievements align perfectly with Dubai's 10-year plan which is the Dubai Economic Agenda D33. This agenda aims to double the emirate's economic size over the next decade.
The visionary leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has played a pivotal role in driving this growth.
Data from FDI’s monitor
Data from the Dubai FDI Monitor at Dubai's Department of Economy and Tourism (DET) further highlights Dubai's ascent as an investment powerhouse.
The city recorded a total of 880 announced FDI projects in the first half of this year, reflecting a remarkable year-on-year growth of 70%.
How much did Greenfield FDI account for?
Greenfield FDI projects accounted for an impressive 65% of the total announced FDI projects in Dubai. Reinvestment FDIs also witnessed an uptick from 3% to 4.4% when comparing H1 2023 to the same period in 2022.
The global Greenfield FDI’s capital attraction
Dubai saw a surge in global Greenfield FDI capital attraction, reaching AED 20.87 billion (approximately $5.68 billion). This propelled Dubai from eighth place in H1 2022 to sixth globally in H1 2023, according to Financial Times "FDI Markets" data.
The HQ FDI projects
Dubai's allure extends to HQ FDI projects, with the emirate ranking first globally by attracting 33 HQ projects in the first half of 2023, outpacing both London and Singapore. This accomplishment underscores Dubai's rising prominence as a global hub for leading companies.
A promising future for job seekers
Dubai witnessed a remarkable surge in job creation, with a 43.3% increase in H1 2023 compared to H1 2022, resulting in 24,236 jobs created through FDI. The top sectors contributing to job creation included Business Services, Software and IT, Food and Beverages, Financial Services, Consumer Products, and Real Estate.
Other FDI projects
Dubai continued to attract medium-to-high technology and low-technology FDI projects in H1 2023, maintaining rates of 63% and 37%, respectively, from the previous year. This highlights Dubai's position as a global hub for cutting-edge FDI ventures and specialised talent in the digital economy.
Key sectors for FDI capital
The key sectors driving FDI capital into Dubai included Financial Services, Business Services, Software and IT Services, Real Estate, and Food and Beverages. These sectors collectively accounted for 82% of total FDI capital inflow and 70% of total FDI projects.
Dubai's remarkable achievements in attracting FDI projects and capital reaffirm its status as a global economic powerhouse and a magnet for investment, setting the stage for a promising future of growth and prosperity.
How impressive is that?
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