21
UAE has attracted 2.3 percent of global FDI Dubai is the top destination both in the UAE and the world
The vast majority of FDI projects have set up in China, the US and in 2009, so far
India, with these three countries attracting 27 percent of all FDI Dubai has had great success in attracting FDI over the past few
between January 2003 and April 2009. Over the same period, years. Of all FDI into the UAE since January 2003, 75 percent
the UAE attracted 2.3 percent of global FDI, with its market share of starts-ups are located in Dubai. The emirate attracted 1,326
growing from a mere 1.5 percent in 2003, to 3.6 percent in the FDI projects between January 2003 and April 2009, with a total
first four months of 2009. combined investment of US$65.5 billion and the creation of an
estimated 194,157 jobs.
fDi Markets recorded a total of 1,766 FDI projects into the UAE,
which represented a combined investment of US$116.9 billion, The largest investment into Dubai was announced in April
and the creation of an estimated 281,423 jobs. In line with global 2007 when US-based Universal Studios announced that it will
trends where FDI figures rose, FDI projects into the UAE are up 43 develop a theme park — modelled after those in Florida, California
percent between January and April 2009 when compared to the and Japan — in the mammoth Dubailand development, at an
same period in 2008. Yet, capital investment per project is down estimated cost of U$2.2 billion.
42 percent and jobs are down 40 percent – a larger percentage
drop when comparing to global trends. Between January and April 2009, Dubai attracted 119 FDI projects
- not only does this account for two-thirds of FDI into the UAE in
The largest project into the UAE in 2009 was announced in January, 2009, but also ranks Dubai as the top city in the world for attracting
when BP (UK) announced plans for a hydrogen-fuelled power plant the most FDI projects in 2009 to date. Although Dubai ranked sixth
in Abu Dhabi which will generate 420 megawatts of electricity and in terms of attracting the most capital investment in 2009, the city
which is due to come online in 2013. The company will establish the also ranked in top position in terms of creating jobs as a result of FDI.
plant through its UK subsidiary Hydrogen Energy, a joint venture
between BP and Rio Tinto, in collaboration with Masdar, part of the An fDi Markets example of a project set up in Dubai which
state-owned Mubadala Development Company. contributed to the emirate’s positive job creation rankings was
the January 2009 establishment of US-based Emerson’s new
Real estate FDI into UAE slowing down regional headquarters in the Jebel Ali Free Zone.
In the first four months of 2009, fDi Markets recorded just eight
FDI projects for the UAE’s real estate sector, compared with 14 Financial Services is the most popular FDI into Dubai, but real
such projects in the first four months of 2008. This could be an estate is more valuable
indication of a lull in the real estate sector in the UAE post- Since 2005, the financial services sector has been the most
boom. The most recent sector project announcement was from popular source of FDI into Dubai, accounting for 16 percent of
Chesterton, the UK-based brokerage, which opened its first all FDI projects. One of the most significant projects within the
UAE office in Abu Dhabi. The office will employ 15 specialists and sector was announced in May 2008, when Khazanah Nasional,
offer residential sales, residential leasing, property management, the investment arm of the Malaysian Government, launched
valuations and research services. ACR ReTakaful Holdings Limited, the world’s largest reinsurance
company with a paid-up capital of US$300 million. The company
Global FDI into Cityscape countries (Jan 2003 -Mar 2009) is a joint venture between Khazanah Nasional, Dubai Holding and
6,000 600,000 Singapore-based Asia Capital Reinsurance.
Investments Capex
5,000 500,000
*Cityscape Intelligence targeted countries:
4,000 400,000
East Asia & Pacific
s
China, Indonesia,Malaysia, Singapore, South Korea,
j
e
c
t
3,000 300,000
r
o
Thailand, Vietnam
I

P
f

F
D
South Asia
2,000 200,000
India
b
e
r

o
u
m
Middle East & North Africa
N
1,000 100,000
C
a
Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman,
p
e
x
Qatar, Saudi Arabia, UAE
0 0
2003 2004 2005 2006 2007 2008 2009
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