The Department of Economic Development (DED) in Dubai witnessed business registration and licensing activity maintaining an upward momentum during the month of March 2018, reaffirming the emirate’s position as a preferred place for business startup and expansion.
According to the ‘Business Map’ digital platform of DED, more than 26,410 BRL business registration and licensing (BRL) transactions were completed in March, compared to 23,407 in February 2018, while the number of new licences issued also jumped from 1,646 to 1,844 between the two months.
The increase in BRL activity, and its distribution across business sectors and areas, underlines improved investor confidence in the expansionary spending policies and economic performance in Dubai as well as the emirate’s potential to enable and sustain business growth.
Renewal of licences accounted for 12,694 BRL transactions in March 2018 while 3,281 transactions were related to trade name reservation. Initial approval transactions amounted to 2,231 and there were also 2,018 auto renewals, 108 instant licences and 139 e-trader licences in the overall activity list.
Commercial licences topped the list of BRL activities in March 2018 at 62.2 per cent, followed by the professional (34.9 per cent), industrial (1.6 per cent) and tourism (1.3 per cent) licences. The outsourced service centres of BRL performed remarkably handling 21,582 (81.7 per cent) of the total transactions and reaffirming their role and relevance in providing competitive services to DED customers.
Among the major regions within the emirate, Bur Dubai accounted for the lion’s share of new licences (848), followed by Deira (847), New Dubai (141) and Hatta (eight). The share of the top 10 sub-regions that accounted for 51.7 per cent of all transactions were as follows: Burj Khalifa (11.2 per cent), New Dubai (8.3 per cent), Al Marar (6.4 per cent), Naif (5.1 per cent), Port Saeed (4.2 per cent), Hor Al Anz (4.1 per cent), Dubai World Trade Centre 1 (3.8 per cent), Al Garhoud (3.4 per cent), Al Karama (2.6 per cent) and Al Khubaisi (two per cent).
span>Almost all major business sectors and activities were covered by the BRL transactions over March 2018. Trade and repair services accounted for 38.8 per cent of the transactions while real estate, leasing and business services (23.1 per cent), construction (13.5 per cent), community and personal services (11.1 per cent), hotels group (7.1 per cent), transport, storage and communications (3.8 per cent), manufacturing (3.3 per cent), financial brokerage (2.3 per cent), and agriculture, education, health and labour (0.6 per cent each) had their share too.
Nationality-wise, Indians were the top segment among BRL customers in March 2018, followed by citizens of Pakistan, Egypt, Saudi Arabia, Britain, China, Syria, Jordan, Bangladesh and Sudan.
The ‘Business Map’ tracks BRL activity and seeks to reflect the economic realities in Dubai by providing vital data on each category of licences including their numbers and sector-wise distribution as well as investor trends on a monthly basis.