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Abu Dhabi, UAESunday 23 September 2018

Foreign investment in Abu Dhabi surges for 2017

Property activities, which include sales to non-residents, made the biggest contribution

The tenant says his neighbours pay up to Dh15,000 less for the same apartment. Delores Johnson / The National
The tenant says his neighbours pay up to Dh15,000 less for the same apartment. Delores Johnson / The National

The volume of foreign direct investment in Abu Dhabi for the year 2017 came in at Dh108 billion a growth of 7.1 per cent over 2016's Dh100.88bn, according to the Statistics Centre - Abu Dhabi (Scad).

Property activities, which include sales to non-residents, made the highest contribution to FDI for the year 2016 and 2017, coming in at Dh29.9bn in 2017, up from Dh27.9bn in 2016, said the report by Scad and the Department of Economic Development (DED).

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Meanwhile, FDI in process industries in 2017 increased to Dh19.2bn from Dh18bn in 2016. Construction and building activity FDI rose from Dh8.10bn in 2016 to Dh9.2bn in 2017.

Exploration industries, which include crude oil and natural gas, recorded an increase in FDI from Dh17.4bn in 2016 to Dh18.2bn in 2017.

Process industries FDI was at Dh17.7bn and the extractive industries, which includes crude oil and natural gas, totalled Dh17.4bn.

The total value of FDI in Al Ain and Al Dhafra regions was mainly focused on electricity, gas and water, process industries and waste management operations.

According to the report, European countries are the highest contributors to the total FDI in the Emirate of Abu Dhabi in 2016.

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