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Dubai retains top spot as global leader in Greenfield FDI

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Dubai has once again cemented its status as the world’s No.1 destination for Greenfield Foreign Direct Investment (FDI) projects, maintaining its leading position for the fourth consecutive year, according to the latest data from Financial Times Ltd.’s ‘fDi Markets.’

In 2024, Dubai attracted an estimated Dh52.3 billion ($14.24 billion) in FDI capital, marking a 33.2% increase from Dh39.26 billion ($10.69 billion) in 2023. This represents the highest FDI value recorded for the emirate since 2020, underscoring its appeal as a prime global investment hub.

The emirate also achieved a new milestone by recording 1,117 Greenfield FDI projects in 2024, the highest in its history. In total, Dubai announced 1,826 FDI projects, an 11% increase from 2023, reinforcing its ability to attract international investment. The influx of FDI generated 58,680 new jobs in 2024, reflecting a 31% increase from the previous year and further demonstrating Dubai’s role as a major employment driver.

Strategic Vision and Investment Leadership

Dubai’s consistent FDI growth is the result of strategic economic planning, spearheaded by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and supported by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

The city’s investment policies align with the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033 and position it among the world’s top three urban economies.

Sheikh Hamdan stated, “Dubai’s ability to sustain its No.1 global ranking in Greenfield FDI attraction is a testament to its strategic vision and investor-centric approach. Despite global economic challenges, Dubai continues to offer a stable, forward-looking business environment that fosters long-term growth and innovation.”

What is Greenfield investment?
Greenfield investment (GI) refers to a type of foreign direct investment (FDI) where a company establishes operations in a foreign country. The company constructs new (green) facilities (sales office, manufacturing facility, etc.) cross-border from the ground up.

A Global Investment Magnet

Dubai’s ability to attract international capital is driven by its world-class infrastructure, investor-friendly regulations, and strategic geographic position. In 2024, the city ranked third globally in terms of job creation through inward FDI, up from fourth in 2023, while maintaining its top ranking in the Middle East and Africa (MEA). Key sectors contributing to this growth include business services, software and IT, real estate, financial services, and industrial equipment.

For the third consecutive year, Dubai was ranked No.1 globally in attracting Headquarter (HQ) FDI projects, securing 50 major HQ investments in 2024 alone. The city also saw a rise in investments across advanced sectors such as artificial intelligence (AI), cybersecurity, and e-commerce, further strengthening its position as a global technology and innovation hub.

Investment Confidence and Market Leadership

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), highlighted the emirate’s resilience in attracting capital. “Dubai’s ability to continuously draw foreign investment amid evolving global economic conditions is a reflection of its strong governance, strategic planning, and robust business ecosystem.”

According to ‘fDi Markets’ data, Dubai led in Greenfield FDI projects across multiple industries, including financial services, real estate, and technology. The emirate’s share of global FDI projects in Advanced Information Technologies (AIT) increased from 7.3% in 2023 to 8% in 2024, reinforcing its leadership in the digital economy.

Key Investment Sources and Sectors

Dubai’s top five FDI source countries accounted for 63% of total investment inflows in 2024, with India leading at 21.5%, followed by the US (13.7%), France (11%), the UK (10%), and Switzerland (6.9%).

The top sectors attracting FDI capital included hotels & tourism (14%), real estate (14%), software & IT services (9.2%), building materials (9%), and financial services (6.8%). Meanwhile, the most active sectors in terms of FDI projects were business services (19.2%), food & beverages (16.5%), and software & IT services (14.3%).

Future Outlook: Sustaining Growth Amid Global Shifts

Dubai’s outlook for FDI in 2025 remains positive despite global economic uncertainties. The emirate is expected to maintain its strong investment momentum, particularly in high-tech and innovation-driven sectors. With an investor-friendly regulatory environment and a focus on long-term economic stability, Dubai continues to attract major private equity and sovereign investors.

As the city advances toward its ambitious economic goals, Dubai remains a global benchmark for investment excellence, economic resilience, and business-friendly policies. Its ability to consistently deliver on its strategic vision ensures that it remains a top destination for international investment, trade, and innovation in the years ahead.

(Source: Wam)

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

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India’s new passport fee rules explained: Who pays more and who gets discounts ?

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India will increase passport issuance and renewal fees by as much as 75% from 1 July, according to amendments to the Passport Rules notified by the Ministry of External Affairs (MEA).

The revision, announced through a gazette notification issued on 20 June, marks the first major increase in passport fees since 2012. The move comes a day after the Indian government clarified that a passport is primarily a travel document and should not be treated as proof of citizenship.

How much will a new passport cost?

Under the revised rates, a standard 36-page passport will cost Rs2,500 under the normal scheme, up from Rs1,500. Applications under the Tatkaal (expedited) scheme will rise from Rs3,500 to Rs5,000.

A 60-page passport will now cost Rs3,500 under the normal process and Rs6,000 under Tatkaal, compared with the current Rs2,000 and Rs4,000 respectively.

For Non-Resident Indians (NRIs), fees will also increase significantly, with a standard 36-page passport rising from $75 to $125 and a 60-page passport from $100 to $175.

Higher charges for lost or damaged passports

Applicants seeking a replacement for a lost or damaged 36-page passport will have to pay Rs5,000 under the normal scheme and Rs7,500 under Tatkaal, up from Rs3,000 and Rs5,000 respectively.

For a 60-page passport, the fee will rise to Rs6,000 under the normal process and Rs8,500 under Tatkaal.

What about children’s passports?

Passport fees for minors have also been revised upward.

For applicants below 18 years of age, a fresh 36-page passport will now cost Rs1,750 under the normal scheme and Rs4,250 under Tatkaal, compared with the current rates of Rs1,000 and Rs3,000.

The cost of replacing a lost or damaged passport for minors has also increased, with fees now set at Rs4,250 under the normal scheme and Rs6,750 under Tatkaal.

Changes to other passport-related services

The government has also increased charges for services such as Police Clearance Certificates (PCCs), Surrender Certificates, Global Entry Programme verification and other passport-related certificates.

The fee for these services will now be Rs750 under the normal scheme. For NRIs, the charge will be $40.

Any relief for applicants?

The revised framework introduces a 10% discount on fresh passport applications for children up to eight years of age and senior citizens aged above 60.

However, the concession will apply only to new passport applications and not to passport reissues.

Why does it matter?

The increase represents the first passport fee revision in 14 years and will affect millions of applicants in India and abroad. With fees rising across nearly all categories, the cost of obtaining or renewing a passport is set to become significantly higher from July 1.

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Paid parking hours in Sharjah extended till midnight from July 1

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Sharjah City Municipality has announced that paid public parking hours across the emirate will be extended until midnight from July 1, 2026, in a move aimed at addressing rising demand for parking spaces.

The new timings will apply to all paid parking areas in Sharjah, Kalba, Khorfakkan and Al Dhaid, including zones marked with yellow signboards. These will now operate in line with blue-zone areas, which already remain chargeable until 12am.

The municipality said parking will remain free on Fridays and official public holidays, except in designated areas where charges apply throughout the week, including holidays. In total, the revised system covers around 124,000 paid parking spaces across the emirate.

Under the new rules, parking fees will be applicable from 8am to midnight, although operating mechanisms may vary in certain smart parking zones, particularly in tourist-heavy locations.

Hamed Al Qaed, Director of the Public Parking Department at Sharjah City Municipality, said the decision follows a detailed study of parking usage patterns, occupancy levels and demand across different parts of the emirate. He added that the review also included benchmarking against other systems and feedback from residents and visitors.

He said growing commercial, economic and tourism activity had increased pressure on parking availability, particularly in the evening hours, making extended operation necessary to improve turnover and reduce congestion.

According to the municipality, the change is also intended to address difficulties faced by residents, subscription holders and visitors—especially those visiting restaurants and cafes—who often struggle to find parking after 10pm.

Officials said the extended hours are expected to improve space availability, reduce illegal or informal parking, and enhance traffic flow in busy commercial and residential districts. The move is also aimed at supporting Sharjah’s broader appeal as a place to live and visit.

The municipality clarified that there will be no increase in seasonal parking subscription fees. Existing subscribers will effectively receive two additional hours of daily coverage, with the current 14-hour free window increasing to 16 hours.

Motorists have been urged to comply with the updated timings and use official payment channels, including SMS services and the Sharjah Digital app. The municipality also encouraged residents to make use of seasonal parking permits available through its online services.

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Dubai rolls out ‘Flexi Rents’ to support tenants with payment relief

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Dubai has launched a new initiative aimed at making housing more affordable by allowing tenants greater flexibility in how they pay their rent.

The programme, known as Flexi Rents, was announced by the Dubai Land Department (DLD) on Tuesday and will initially be rolled out through 12 participating real estate companies.

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Under the scheme, tenants will be offered a range of payment options, including monthly rent instalments, extended payment plans of up to 12 months, grace periods and revised payment schedules. In some cases, landlords may also waive rental increases.

Khalid Al Shaibani, Director of the Rental Affairs Section at the DLD, said the initiative was intended to improve housing stability and help residents manage rising living costs.

“The Affordable Rental Initiative reflects Dubai’s commitment to promoting housing stability and supporting residents through flexible and accessible rental solutions,” he said.

The programme will be available to both new and existing tenants. Residents currently paying rent through annual or multiple-cheque contracts can request revised payment arrangements from participating landlords and property management companies.

The DLD said some administrative fees associated with delayed cheque payments could also be waived. Tenants will be able to pay using a variety of methods, including credit cards, debit cards and cheques.

Officials said the initiative is expected to expand beyond the initial group of participating companies in the coming phases.

“This is only the beginning,” Mr Al Shaibani said, adding that further measures aimed at enhancing quality of life in Dubai would be announced in the months ahead.

According to DLD figures, nearly 1.2 million tenancy contracts, including new leases and renewals, were recorded in Dubai last year, underlining the scale of the emirate’s rental market.

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