FDI continues to pour into Dubai

04/10/2012 - Dubai Investment News Posted by Bob Brunskill
FDI continues to pour into Dubai

The amount of foreign direct investment (FDI) pouring into the UAE continues to increase.New figures provided by Dubai's Department of Economic Development have confirmed the emirate accrued AED 16.5 billion (£2.78 billion) from external sources in the first half of 2012.This was a seven per cent improvement on the first six months of 2011 and is yet another clear sign that Dubai is increasingly attractive to investors.With confidence returning to the real estate markets, the future appears to be bright for the UAE.The body revealed that 113 companies launched 115 FDI projects between January and June 2012, which is very encouraging.Chief executive officer of Dubai FDI Fahad Al Gergawi said that Dubai's economic prosperity is not going unnoticed."More and more firms and investors worldwide are now convinced of the unique growth opportunities Dubai provides as a regional hub and business centre," he remarked."The rise in number of multinationals relocating to Dubai and in FDI across key industry sectors in the emirate validates this."It is also noteworthy that a new breed of investors is finding Dubai the place to be," Mr Al Gergawi added.Developers are now starting to kick-start ambitious building projects that were shelved because of the global financial downturn, so there is every chance that foreign investors will ramp up their interests in Dubai in the near future.Earlier this year, the Khaleej Times reported that Dubai remains a firm favourite among British investment bankers in particular.It highlighted a study conducted by recruitment firm Astbury Marsden that showed the emirate to be the most popular place for UK-based investors to work in the Middle East and North Africa region.In August, Citigroup revealed that Dubai's property market is still very much viewed as a safe haven among foreigners and luxury apartments in exclusive buildings such as the Burj Khalifa are selling very well.Experts generally share the view that prices will continue to rise steadily in the near future, so investors will soon find that their assets are delivering solid returns.