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Dubai continued to be the destination of choice for businessmen and investors as the Department of Economic Department (DED) issued 1,689 new licenses and completed 26,184 transactions relating to business registration and licensing in the emirate during the month of May 2018. Renewal of existing licenses accounted for the largest share of the total transactions as their numbers reached 12,618, according to data recorded on the ‘Business Map’ digital platform the Business Registration & Licensing (BRL) sector in DED.
The Business Map showed that 2,954 of the transactions during the last month were related to Trade Name Reservation, 2,083 to Initial Approvals, and 3,013 to Commercial Permits. There were also 5,122 Auto Renewal transactions, 97 related to Instant License, and 119 e-Trader license transactions as the emirate continued to attract entrepreneurs and investors with its strong credentials as a regional and global business hub.
The outsourced service centres, a growing network providing competitive BRL services to DED customers, accounted for 77.6% (18,446) of the total transactions completed during May 2018.
The majority of the transactions in May were related to Commercial licenses (59.4%) followed by Professional licenses (38.5%), Tourism licenses (1.1%), and Industrial licenses (1%). Region-wise Bur Dubai led with a total of 809 licenses, Deira came next with 742 licenses, while New Dubai had 135 new licenses and Hatta three.
The top ten sub-regions that accounted for 56% of the total transactions from all areas in Dubai were: Burj Khalifa (11.6%), New Dubai (8.2%), Al Marar (6.4%), Naif (4.8%), Port Saeed (4.4%), Al Karama, Hor Al Anz and Dubai World Trade Centre 1 (3.8% each), Al Wasl (3.6%) and Al Barsha (2.2%).
Trade & repair services (35.8% topped the list of business activities featured among the transactions in May 2018, followed by Real estate, leasing and business services (21.9%), Construction (12.3%), Community & personal services (11.2%), Hotels group (7.8%) and Transport, storage & communications (3.2%), Manufacturing (3.2%), financial brokerage (2.3%), Education (0.9%), health and labour( 0.6% each).
The top ten nationalities among BRL customers in May 2018 were Indians, Pakistanis and Egyptians, followed by Chinese, Jordanians, British, Bangladeshis, Saudis, Syrians and Lebanese in that order.
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. Overall business registration and licensing (BRL) activity and its distribution across sectors and areas in the emirate reaffirms improved investor confidence in the expansionary spending policies and growth potential in Dubai.
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