Dubai Remains World's Leading City For Greenfield Foreign Direct Investment In H1 2024

Dubai remained the top city across the globe for attracting Greenfield Foreign Direct Investment (FDI) projects in the first half of the year, according to the Financial Times Ltd's 'fDi Markets' data, showing its competitiveness and attractiveness to international investors.

The emirate attracted 508 Greenfield FDI projects from January to June 2024, which accounts for a 6.2% share of global FDI, up from 5.7% during the same time last year, WAM reported.

Dubai is ranked higher than major financial centers like London, Singapore, and New York City. It has maintained its top global position in attracting Greenfield FDI projects for six consecutive half-year periods since the second half of 2021.

In the first half of 2024, Dubai ranked No. 1 in various sectors, including tourism, real estate, artificial intelligence, headquarters, logistics, and fintech, further strengthening its status as a global investment hub.

In H1 2024, Dubai moved up three spots globally from sixth to third place for attracting Greenfield FDI capital, and from third to first place in the Middle East and North Africa (MENA) region compared to H1 2023.

This improvement shows the emirate's ongoing efforts to create an investor-friendly environment through streamlined regulations, advanced infrastructure, and strategic initiatives that promote economic growth.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that the emirate has greatly improved its status as a key player in the global economy, crediting Prime Minister Sheikh Mohammed bin Rashid Al Maktoum for this status due to his forward-thinking vision.

"Since 2021, Dubai has consistently maintained its top position in attracting foreign investment for six consecutive half-year periods, driven by its advanced economic system, exceptional infrastructure, and progressive investment policies," he said.

"This achievement showcases the investors' trust in Dubai's capacity to foster an environment conducive to innovation and sustainable growth. We are committed to not just maintaining Dubai's status as a major economic and tourism centre but also ensuring it ranks among the top three global cities for visiting, investing, living, and business," he added.

In the first half of the year, a total of 801 FDI projects worth AED 21.85 billion were announced in Dubai, marking an increase from AED 20.30 billion across 803 projects during the same period in 2023, according to Dubai FDI Monitor data.

The projects include greenfield FDI, new investments (NFIs), mergers and acquisitions, reinvestments, VC-backed FDI and greenfield joint ventures.

The total estimated FDI capital rose by 8% in H1 2024 compared to H1 2023, showing that Dubai remains an attractive location for higher-value investments.