Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and creative industries in 2022.
The emirate attracted a record-breaking 451 projects, which represents an increase of 107.7 per cent, and surpasses the likes of London, Singapore, Paris and Berlin.
That’s according to the Department of Economy and Tourism’s (DET) Dubai FDI Monitor report based on data from the Financial Times’ ‘fDi Markets,’ a leading source on Greenfield FDI projects.
Dubai’s total FDI capital flows in the cultural and creative industries surged to AED 7.35 billion in 2022, ranking the city 1st in the MENA region and 12th globally (up from 14th in 2021).
This FDI generated an estimated 12,368 jobs, positioning Dubai 1st in the MENA region and 6th globally (maintaining the same level as 2021) in job creation in FDI.
#Dubai ranks first globally in attracting FDI projects in cultural and creative industries in 2022
— Dubai Media Office (@DXBMediaOffice) June 11, 2023
Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and Member of the Dubai Council, said the latest ranking reflects the emirate’s unique approach and reflects the strength and maturity of its infrastructure and its legal, legislative, creative and digital environment.
The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries in terms of FDI projects.
According to the data, Greenfield (wholly-owned) FDI projects accounted for 76 per cent of the total, followed by New Forms of Investments (NFIs), which accounted for 13 per cent, Mergers and Acquisitions and Reinvestment projects making up 5 per cent each, and Greenfield (joint-ventures) at 1 per cent.
In a city that thrives on bold ambition and global connection, a new landmark has quietly taken its place at the heart of Dubai’s business future.
DMCC has officially opened The Plaza at Uptown Dubai, a 21,000 square metre open-air destination designed to host everything from high-level corporate summits to large-scale concerts and community gatherings.
For UAE residents and business leaders alike, this isn’t just another development announcement. It’s a signal that Uptown Dubai is stepping into a new era.
A new gathering space in town
Strategically positioned at the centre of Uptown Dubai, The Plaza physically connects the iconic Uptown Tower with the district’s wider commercial and residential community.
Designed to accommodate up to 4,000 guests, the venue features advanced staging, lighting and digital display infrastructure, enabling year-round programming and rapid event turnover.
For Dubai’s fast-moving corporate ecosystem, that means seamless hosting of:
Global trade conferences
Finance and technology forums
Industry expos
Cultural performances
Community celebrations
In a city known for world-class event venues, The Plaza adds something different: scale, accessibility and integration within a thriving business district.
For UAE residents, the venue offers more opportunities for networking, collaboration and global visibility without leaving the city.
Next business hub taking shape
The Plaza’s launch comes as Uptown Dubai moves into its next development phase.
Currently under construction:
Two commercial towers (23 and 17 storeys)
62,000 square metres of additional Grade A commercial and retail space
Once complete, the full district will deliver:
538,000 square metres total gross floor area
232,000 square metres dedicated to Grade A commercial office space
What’s in it for residents
For professionals, it means:
More international events are hosted locally
Increased networking and industry exposure
Expanded commercial opportunities
For residents, it offers:
Open-air concerts and cultural events
Community experiences within a premium urban setting
In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has issued a decree appointing Abdulla bin Damithan as Chairman of the Ports, Customs and Free Zone Corporation.
The appointment places one of the UAE’s most experienced trade and logistics leaders at the helm of one of Dubai’s most strategically important economic entities.
A Veteran in Ports and Global Trade
Abdulla bin Damithan brings more than two decades of experience in ports, logistics and international trade. He currently oversees DP World’s operations across the Gulf Cooperation Council (GCC) region, managing ports, economic zones, marine services and trade solutions.
He previously served as CEO and Managing Director of DP World UAE, where he led strategic growth across key regional markets. He oversees Jebel Ali Port and Jebel Ali Free Zone (Jafza).
Bin Damithan joined DP World in 2001 and has since held several senior leadership roles, contributing to the company’s transformation into a global provider of smart trade and logistics solutions.
New Leadership Appointments at DP World
Separately, DP World confirmed the appointment of Essa Kazim as Chairman of its Board of Directors, alongside the appointment of Yuvraj Narayan as Group CEO.
Kazim currently serves as Governor of the Dubai International Financial Centre (DIFC) and Chairman of Borse Dubai. He brings extensive expertise in financial and economic affairs, having held senior leadership positions across several national institutions.
Narayan, who joined DP World in 2004, has played a key role in leading strategic and transformational initiatives that strengthened the company’s global footprint.
Serving as Group Chief Financial Officer since 2005, Narayan has been instrumental in enhancing DP World’s financial resilience, operational efficiency and supply chain capabilities worldwide.
Dubai is getting a brand-new desert destination, and it’s massive.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has approved Al Layan Oasis, a 10 million square foot eco-tourism and leisure project set to transform part of the emirate’s desert into a lake-centred retreat packed with walking trails, camping areas and family attractions.
Located about 50 minutes from Dubai city centre, the oasis is expected to attract 330,000 visitors a year.
A 2.5 Million Sq Ft Lake in the Desert
At the heart of Al Layan Oasis will be a 2.5 million sq ft lake, surrounded by:
14km of walking and cycling tracks
Elevated pathways five metres above ground
1,000 parking spaces
Sports and recreation facilities
Camping and caravan zones
The elevated 4km track will offer panoramic desert views and connect to existing routes in Al Marmoom.
Four Zones for Families and Visitors
The destination will feature four themed areas:
Camping Oasis: 100 caravan spots and a visitor centre
Gathering Oasis: Open-air cinema, amphitheatre and food trucks
Family Oasis: 28 shaded rest areas and children’s play zones
Recreation Oasis: Retail, activities and leisure facilities
Officials say the project balances eco-tourism with environmental protection, expanding native planting and shaded areas to enhance comfort.
Part of Dubai’s Sustainability Plan
Al Layan Oasis forms part of Dubai Municipality’s Blue and Green Roadmap 2030, under a Dh4 billion package aimed at investing in nature to improve the quality of life.
The project also supports the Dubai 2040 Urban Master Plan and the emirate’s long-term sustainability and wellbeing goals.
Once completed, Al Layan Oasis is expected to become one of Dubai’s key desert lifestyle and eco-tourism destinations, offering residents and tourists a new way to experience nature without leaving the emirate.