Washington, DC Proclaimed an American City of the Future for Foreign Investment


Julie Weber
Director, Marketing


Washington, DC Proclaimed an American City of the Future for Foreign Investment
DC Receives International Award by Foreign Direct Intelligence

Washington, DC – October 10, 2013   The Washington DC Economic Partnership (WDCEP) is pleased to announce that Washington, DC has been selected as one of the American Cities of the Future for Foreign Investment by FDi Intelligence. The award was presented to the District of Columbia on October 7th at the IEDC 2013 Annual Conference. Keith Sellars, President/CEO of WDCEP, accepted the award on behalf of the District of Columbia.

“The Nation’s Capital is one of the top world markets for foreign investment. Foreign investors are attracted to DC by our real estate, as an entry point to the U.S. market, our international assets and increasingly as a residential destination,” said Victor L. Hoskins, Deputy Mayor, DC Office of Planning and Economic Development. “Investors from countries such as Korea, China, Germany, and Saudi Arabia, as well as several Middle Eastern sovereign wealth funds in Abu Dhabi and Qatar have invested in DC. We expect interest from investors to continue because of the high potential return on investment achievable with a DC presence,” said Hoskins.

Interest from abroad appears to be strengthening, especially in real estate and tech–related companies. According to research by Jones Lang LaSalle, foreign investors injected $1.9 billion into Washington commercial real estate market in the first six months of 2013. This exceeds the total of $1 billion for all of 2012 and is more than double the $807 million that foreign investors paid in 2011, which represents an 83.3% year-over-year increase. While foreign interest in Washington has always been strong, 30% of buildings sold were to foreign entities in 2012 as compared to 17 percent in 2000.

The interest from foreign investors is not just in commercial real estate. Foreign investors are also investing in local companies, including technology firms. Foreign ownership of residential property has also increased, especially with high-end properties in the downtown area and the Georgetown neighborhood.

In response to the mounting interest in business and investment, Washington DC has established a trade office in China. Strategically located in Shanghai, China’s most economically dynamic city. The DC China Center focuses on facilitating DC companies’ entry into the China market, as well as attracting Chinese FDI to the District. The DC China Center is supported by the DC Mayor’s Office, Office of the Deputy Mayor for Planning and Economic Development (DMPED), DC Department of Small and Local Business Development (DSLBD), ExportDC, and in collaboration with private-sector members of the DC business community.

“The District of Columbia is in a unique position to leverage its position as the Nation’s Capital and its market strength to foreign companies seeking a US presence and a high return on investment,” said Keith Sellars, President/CEO, WDCEP. “No other U.S. city can claim our international appeal with 176 embassies, the World Bank, the International Monetary Fund, and the Pan American Health Organization (PAHO) among other international organizations and the federal government.”

A 501(c)(3) organization, the Washington, DC Economic Partnership promotes business opportunities throughout the District and contributes to business retention and attraction activities. WDCEP is the first point of access for real estate and corporate executives seeking market and demographic information, information about the city and incentives, and real estate investment. For more information visit www.wdcep.com
About the FDI Awards

fDi Intelligence, a division of The Financial Times Ltd, is the largest FDI centre of excellence globally. Specializing in all areas relating to foreign direct investment and investment promotion, the full suite of services includes: location advertising to generate brand awareness; industry-leading intelligence tools to develop FDI strategies and identify potential investors; and tailored FDI events and investor roundtables to meet target companies and generate business leads. fDi Magazine – firmly established as the world’s premier publication for the business of globalization. Published on a bi-monthly basis with an ABC-certified, highly targeted circulation of more than 15,000, fDi Magazine provides corporate decision-makers and cross border investment professionals with an up-to-date image of the ever-changing global investment map.

Posted Under: DC News, Press Releases