Tuesday 11 August 2020

Dubai’s Al Garhoud claims 15pc of new licences in H1

DUBAI, 16 days ago

The Al Garhoud area in Dubai saw the most number of new businesses, accounting for 15 percent of the total of the 16,826 new business licences in the first six months (H1) of 2020, said a report.

Al Garhoud was followed by the Burj Khalifa area (12 percent), Oud Al Muteena 3 (6.5 percent), Trade Centre 1 (5.2 percent) and Oud Metha (4.8 percent), reported Emirates news agency Wam, citing a report issued by the Business Registration & Licensing sector of Dubai Economy.

Al Garhoud attracted 2,535 new licenses, with ‘Professional’ activity accounting for the largest share. Out of 12,192 businesses operating in the area, 6,096 hold Professional licences, nearly 50 percent, followed by 5,940 Commercial licences (48.7 percent of the total). Of the new licences, 97 percent were issued for businessmen, 2.2 percent were issued to women entrepreneurs and 0.8 percent to companies.

In terms of legal forms of the active licenses in Al Garhoud, Limited Liability Company ranked first with 5,758 licenses, followed by Civil Company (4,102 licenses) and Sole Establishment (1,820 licenses).

The Burj Khalifa area attracted 2,022 new licenses during the first half of 2020. Commercial activity accounted for the largest share (59.6 percent) of the total number of active licenses at 21,941, followed by licences for Professional activity at 38.3 percent.

Businessmen formed 95.3 percent of the total, while Women entrepreneurs formed 2.8 percent, and companies 1.9 percent. In terms of legal forms, Limited Liability Company came first with 12,720 licenses, followed by Sole Establishment (4,231) and Civil Company (3,201).

The popularity of 'Al Garhoud' is led by the number of commercial and residential complexes in the area and its proximity to the Dubai International Airport, the City Centre Deira and Dubai Festival City Mall. The Burj Khalifa area is popular being part of Downtown Dubai, a leading tourist destination.


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