Greenfield Foreign Direct Investment (FDI) refers to investments made by a company or individual from one country into business assets in another country, where the foreign investor creates new operations or facilities from scratch. This type of investment is called “greenfield” because it involves starting a project on a green field, implying building new facilities on undeveloped land, as opposed to “brownfield” investments, which involve purchasing or leasing existing facilities. Greenfield FDI typically includes constructing new factories, offices, or plants, often leading to job creation and infrastructure development in the host country.

Dubai topped the global charts for Greenfield FDI projects in 2023 for the third consecutive year, according to Financial Times Ltd’s FDI markets data. The city excelled in attracting investments across key sectors such as consumer goods, energy, e-commerce, and tourism, leading in both capital and job creation through these projects.

This achievement aligns with the ambitious goals of Dubai’s Economic Agenda D33, which aims to double the city’s economy by 2033. The influx of 1,070 global Greenfield FDI projects in 2023 significantly outpaced second-place Singapore’s 442 projects and London’s 431 projects. Over the past five years, Dubai’s share of global projects has tripled, rising from 1.7% in 2019 to 6% in 2023.

Dubai also emerged as the top destination for headquarters FDI projects, attracting 60 such projects in 2023, surpassing Singapore’s 40 and London’s 31. Regarding jobs created through inward FDI, Dubai ranked fourth, up from fifth in 2022, and moved up to fifth place globally for Greenfield FDI capital attraction, improving from seventh position.

Looking ahead to 2024, Dubai plans to accelerate its D33 Agenda by nurturing a competitive economic ecosystem that fosters value creation. The city remains committed to becoming a global hub where leading companies, entrepreneurs, and innovators come to build the future.