Dubai Ranked Top Destination for Greenfield FDI Projects

Dubai has been ranked the world’s No.1 destination for Greenfield Foreign Direct investment (FDI) projects for the fourth successive year, according to the data from the ‘fDi Markets, published by the Financial Times.

In 2024, Dubai attracted $14.24 billion in estimated FDI capital, a 33.2% increase from $10.69 billion in 2023, marking the highest FDI value ever recorded in a single year since 2020, Dubai Crown Prince, the UAE’s Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai H H Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

According to H H Sheikh Hamdan, Dubai attracted a record-breaking 1,117 Greenfield FDI projects in 2024, the highest in its history. Dubai also achieved a historic milestone in FDI attraction with 1,826 announced FDI projects, an 11% increase from 1,650 projects in 2023, according to DET’s Dubai FDI Monitor.

This marks the highest number of total announced FDI projects ever recorded by the emirate. A total of 58,680 estimated jobs were generated through FDI in 2024, a 31% increase from 44,745 jobs in 2023.

He said that Dubai’s ability to steadily consolidate its status as a leading global destination for FDI reflected its commitment to delivering exceptional value to investors worldwide. 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.

“This success is the result of a strategic vision that keeps pace with economic and technological transformations, aligned with the ambitious objectives of the Dubai Economic Agenda D33 to double the size of the Emirate’s economy by 2033 and establish it as one of the world’s top three urban economies,” he noted.

According to him, this latest FDI rankings across key areas mark yet another key milestone in Dubai’s development journey. Even amid economic headwinds elsewhere, Dubai continues to rise as a global magnet for investment, enterprise, and talent, offering stability, world-class infrastructure, and a dynamic business environment.

“We remain committed to fostering a culture of innovation, enhancing economic competitiveness, and building an exceptional ecosystem that empowers businesses and investors to achieve growth and prosperity. Driven by our bold aspirations, we are resolute in strengthening Dubai’s position as the city of the future and a global hub for the brightest minds and most pioneering enterprises,” he added.

Global Hub

Dubai’s forward-looking strategies have transformed the Emirate into a global hub for FDI, with the city’s attractive business environment, favourable regulations, infrastructure, and strategic location making it a preferred destination for investors.

The data also showed that the city was ranked fourth globally for attracting Greenfield FDI capital, up from fifth position in 2023, while also claiming the top spot in the Middle East and Africa (MEA) region, marking a significant leap in its investment appeal.

The city also advanced from fourth to third globally in terms of jobs created through inward FDI in 2024, securing the top position in MEA. Dubai experienced a surge in talent attraction across key sectors such as business services, software IT services, real estate, transportation/warehousing, financial services, industrial equipment, consumer products, and communications. This highlights the city’s dynamic business environment, strategic economic policies, and ability to draw skilled professionals, reinforcing its position as a top destination for investment and innovation. 

For the third consecutive year, Dubai was also ranked No.1 globally in the attraction of Headquarter (HQ) FDI projects, with 50 projects in 2024. Regionally, Dubai was No.1 in Greenfield FDI projects, capital, and jobs in MEA.

“With a 6.2% global market share and a 55% share of the Middle East’s total Greenfield FDI projects, Dubai continues to set the benchmark for investment excellence and economic dynamism,” he added.