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FDI investment in UAE reached $12b in 2013, projected to cross $14.4b in 2014

Dubai: Fortress Investments, a leading investment firm operating in the Middle East, says FDI investment in the UAE reached $12 billion (Dh44 billion) in 2013 and is projected to grow 20 per cent in 2014 to reach $14.4 billion.

The estimated growth rate in 2014 would represent a 260 per cent increase over 2008, which reflects huge future growth potential for the UAE economy, according to the investment firm.

“There is phenomenal investor interest in the UAE market. Dubai is now one of the most popular investment destinations among global investors. Many emerging sectors are attracting higher attention from investors, such as reality, ICT, education, tourism and entertainment,” said Hamed Mokhtar, Managing Director at Fortress Investments. “Dubai’s attraction as an investment hotspot was never greater.”

Dubai’s successful Expo 2020 bid will ensure the investment in UAE market is lucrative in the medium term, as Dubai and the UAE would benefit from an estimated $6.9 billion earmarked for infrastructure projects around the event.

Dubai’s construction industry would benefit from the heightened new activity, but other sectors like travel, tourism, hospitality and retail would also gain during the run-up to the event and thereafter.