Dubai retains top ranking for Greenfield FDI projects

Dubai has retained its position as the world's leading destination for the Greenfield foreign direct investment projects for the fourth successive year, according to a recent statement issued by the Government of Dubai Media Office.

In 2024, Dubai attracted AED52.3 billion ($14.24 billion) in estimated FDI capital, a 33.2 percent increase from AED39.26 billion ($10.69 billion) in 2023, marking the highest FDI value ever recorded in a single year for the emirate since 2020.

It attracted a record 1,117 Greenfield FDI projects in 2024 — the highest in its history — followed by Sharjah and Abu Dhabi.

Dubai also achieved a historic milestone in FDI attraction with 1,826 announced FDI projects, an 11 percent increase from 1,650 projects in 2023, according to the Dubai Department of Economy and Tourism's FDI Monitor.

"Dubai's ability to steadily consolidate its status as a leading global destination for foreign direct investment reflects its commitment to delivering exceptional value to investors worldwide," Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai, deputy prime minister and minister of defense of the United Arab Emirates, and chairman of the Executive Council of Dubai said in the press statement.

"The city's ranking as the world's No 1 destination for attracting Greenfield FDI for the fourth consecutive year is a testament to its ability not only to set new global benchmarks for sustained, rapid growth but also to continuously evolve its investment proposition in response to changes sweeping the international market."

Dubai FDI Monitor revealed that the top five source countries for FDI capital accounted for 63 percent of the total estimated flows into Dubai in 2024.

India topped the list with the highest total estimated FDI capital in Dubai (21.5 percent), followed by the United States (13.7 percent), France (11 percent), the United Kingdom (10 percent) and Switzerland (6.9 percent).

In terms of total announced FDI projects in Dubai, the top five source countries accounted for almost 55 percent with the United Kingdom (17 percent), followed by India (15 percent), the United States (14 percent), France (4.5 percent) and Italy (4 percent).

In 2024, the top five sectors accounted for 53 percent of the total estimated FDI capital flows into Dubai.

Based on FDI capital, the leading sectors were hotels and tourism (14 percent), real estate (14 percent), software and IT services (9.2 percent), building materials (9 percent) and financial services (6.8 percent).

For FDI projects, the top sectors were business services (19.2 percent), food and beverages (16.5 percent), software and IT services (14.3 percent), textiles (9.6 percent), and consumer products (8.3 percent), as per the statement.