Greenfield FDI investment totaled to Dh28.6 billion in 2015 on the back of 279 projects, up from nearly Dh20 billion on 240 projects in 2014. Dubai FDI, an agency of the Department of Economic Development – Dubai, provided this data in its first ‘Dubai FDI Monitor’ reports series.
Over Dh14.9 billion or ($4 billion) or 76 per cent of the total FDI was invested by the top five source countries of Saudi Arabia, US, UK, India and Kuwait. In volumes, US, UK, India, Germany and Switzerland invested in 168, or 60 per cent, of total FDI projects. 71 per cent of FDI projects in 2015 qualified as high and medium tech, generating 59 per cent of total FDI. Top industries by number of projects in 2015 were professional services, IT services, transportation and warehousing, finance and retail. The top five industries generated 164 projects, representing 59 per cent of total projects in 2015.
Fahad Al Gergawi, CEO of Dubai FDI, said: “Dubai has been successful in attracting investments in smart city technologies, renewable energy and green buildings among other high-tech sectors that improve productivity and efficiency while accelerating the transition to a green and sustainable economy.”
This paces Dubai fourth on the global FDI rankings in number of greenfield projects and sixth in foreign capital attracted, according to FT Markets.
The FDI monitor was developed in partnership with Wavteq, an FDI technology and consulting company, and aims to map out the investment landscape in Dubai through analysing FDI flows.
In view of Dubai’s data gathering and analytical abilities, would it have been very difficult establishing this monitor?