According to the report from Statistics Centre – Abu Dhabi (SCAD), the volume of FDI in Abu Dhabi grew by 7.1% to AED 108 billion for the year of 2017 as compared to AED 100.88 Billion in 2016.
Ahead of Expo2020, the property activity including sales to non-residents, was the highest contributor to FDI for the year 2017 and 2016, coming in at AED 29.9 billion in 2017 up by AED 27.9 billion in 2016. Construction and building activity witnessed FDI growth of 14.8% to AED 9.2bn in 2017 from AED 8.10bn in 2016.
Meanwhile, FDI in process industries grew by 6.6% to AED 19.2bn in 2017 while for exploration industries, which include crude oil and natural gas, FDI grew by 4.6% to AED 18.2bn in 2017.
As the UAE continues to diversify its economy, AbuDhabi is aiming for double-digit annual growth in foreign direct investments through its newly established Abu Dhabi Investment Office (Adio). The capital city of UAE has attracted AED 95 billion in foreign investments from 2009 to 2016, representing an average growth of roughly 8% a year.