DED: Business Licensing in Dubai Retains Momentum in February
The Department of Economic Development (DED) issued 1.646 new business licences during February 2018 and completed 23,407 transactions business registration and licensing as Dubai maintained its ability to attract businesses looking to grow competitively and sustainably. Of the total, 11,300 transactions were related to renewals while 2,060 Initial Approvals were given and 3,029 trade names reserved during the same period, as seen on the ‘Business Map’ digital platform.
The ‘Business Map’ tracks business registration and licensing in DED and seeks to reflect the economic realities in Dubai by providing vital data on each license category, including their numbers and distribution as well as investor trends on a monthly basis. February 2018 also saw 1,646 transactions relating to commercial permits, 1,644 Auto Renewals, 11 Instant Licences and 67 e-Trader licences.
Majority of the transactions were related to Commercial licenses (62.3%) while the Professional (36.6%), Industrial (0.9%) and Tourism (0.6%) categories of licenses followed in that order. The Outsourced Service Centres, which have become a sought-after service outlet for the Business Registration & Licensing (BRL) sector in DED continued to witness hectic activity in February accounting for 18,977 transactions, or 79% of the total, during the month.
The Bur Dubai area topped the list of new licenses issued with 785, followed by Deira (714), New Dubai (193) and Hatta (7). The share of the top ten sub-regions, that constituted 51.7% of the total transactions, is as follows: Burj Khalifa 13.8%, New Dubai 8.4%, Al Marar 6.3%, Naif (4.3%), Port Saeed 4.2%, Hor Al Anz and Dubai World Trade C entre 1 (3.1% each), Al Garhoud (2.4%), Al Karama (2.3%) and Al Khabaisi (1.9%).
BRL activity in February 2018 covered all major sectors and services reflecting the overall optimism prevailing over the emirate’s business competitiveness and sustainability potential. Real estate leasing & services accounted for 26.9% of the transactions, followed by Community & personal services (12.4%), Construction & building (14.4%), Hotels (8.1%), Transport, storage & communications as well as Manufacturing ( 2.3% each), Financial brokerage (2.5%), Procurement (0.8%), Agriculture (0.4%), Occupational health (0.7%) and Education (0.6%).
Meanwhile, top nationalities that sought BRL services in February 2018 included Indians, Pakistanis, Egyptians, British, Saudis, Chinese, Jordanians, Syrians and Americans in that order.
Department of Economic Development
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. The DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
Buy credits to publish your articles on Al Bawaba Biz here