India Among Source Markets for Capital into Dubai
DUBAI: India was among the top source market for Dubai whose infrastructure development initiatives and the services industries remained the major drivers of capital into emirate in 2014.
The emirate witnessed $7.8 billion in foreign direct investment.
Estimates by Dubai Investment Development Agency, an agency of the Department of Economic Development, showed that the United States, the UK, India and other European countries, such as France and Germany were major source markets.
Out of a total of 41 source countries, the top ones - US, UK, India, Netherlands, Germany and Italy - generated a total of 23.9 billion dirhams throughout the year across 141 projects. In terms of investment, these countries represented almost 84 per cent of the total FDI for the whole year and 59 per cent of the total in terms of the number of projects.
With clear signs of recovery and iconic projects on board, the real estate sector, financial services, hotels and tourism, alternative/renewable energy, business services, software and IT services were the top sectors together accounting for 78 per cent of investment, or 22 billion dirhams in 2014.
These sectors also claimed 133 projects, half of the total FDI projects in 2014.
"The latest FDI figures once again prove that Dubai remains the preferred and ideal destination for investors and businessmen, who have confidence in the national economy, which is witnessing steady growth in various sectors."
"Dubai hosting the Expo 2020 has stimulated a major influx of investors and growth opportunities. We welcome all kinds of investments and global companies that are looking for stability and business development in an integrated investment environment," said Sami Al Qamzi, director general of DED.