Sunday 26 May 2019

Dubai issues 2,204 new licenses in February

DUBAI, March 12, 2019

The Business Registration and Licensing (BRL) sector of the Department of Economic Development (DED), Dubai, issued 2,204 new licenses in February, a growth of 37 per cent compared to the same month of 2018 (1,606).

The new licenses created 8,515 jobs in the labour market. Among the new licenses issued, 61.1 per cent were commercial, 36.5 per cent professional, 1.7 per cent related to tourism and 0.7 per cent industry.

The ‘Business Map’ digital platform of DED, which seeks to reflect economic realities in Dubai by providing vital data on each license category including their numbers and distribution on a monthly basis, saw 25,269 business registration and licensing transactions being completed in the month of February 2019, a growth of 27 per cent compared to February 2018 (19,885).

The report showed that License Renewal accounted for 12,018 transactions in February 2019, a growth of 52 per cent compared to February 2018 (7,906), while 5,379 transactions were related to Auto Renewal via text messages.

During the month of February 2019, the number of Trade Name Reservations was 3,390, a growth of 20.6 per cent compared to February 2018 (2,812), while the number of Initial Approvals reached 2,503, a growth of 21.6 per cent compared to February 2018 (2,058), and the number of Commercial Permits reached 1,465 permits. BRL also issued 156 instant licenses. The Instant License is issued in a single step without the need for either the MOA? (?Memorandum of Association?) ?or an existing location for the first year only.

The outsourced service centres of DED issued 18,241 transactions, a growth of 72.2 per cent of the total BRL transactions issued in February 2019 (25,269), thus demonstrating their vital role in delivering value-added services to the public in Dubai.

The report also showed that the top nationalities who secured licenses in February 2019 were: India followed by Pakistan, Bangladesh, Egypt, Britain, China, Jordan, Saudi Arabia, Lebanon and France.

The report also highlighted the distribution of new licenses in February 2019 in the main areas in Dubai, with Bur Dubai accounting for the largest share (1,163), followed by Deira (1038), and Hatta (3). The top sub-regions that accounted for 57.2 per cent of all the transactions were: Burj Khalifa (17.7 per cent), Port Saeed (6.7 per cent), Al Fahidi (6.3 per cent), Al Khabaisi (5.6 per cent), Al Garhoud (4.2 per cent), Al Marar (3.7 per cent), Naif (3.6 per cent), Riggat Al Buteen (3.6 per cent), Dubai World Trade Centre 1 (3.5 per cent), and Al Barsha 1 (2.3 per cent).

Trade & repair services accounted for 33.9 per cent of the new licenses issued in February 2019 according to the distribution of economic activities, followed by real estate, leasing & business services (26.8 per cent), building & construction (14.7 per cent), community & personal services (10.7 per cent), hotels group (4.4 per cent), transport, storage & communications (3.4 per cent), manufacturing (2.7 per cent), financial brokerage (1.4 per cent), health & labour (0.8 per cent), education (0.6 per cent), and agriculture (0.6 per cent). – TradeArabia News Service


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