Dubai Department of Economic Development (DED) said its business registration and licensing (BRL) has issued a total of 1,748 new licences in November even as the emirate remains a destination of choice for investment in diverse business sectors. 

 

Of these new licenses issued, 62.3 per cent were commercial, 35.2 per cent professional, 1.3 per cent related to tourism and 1.2 per cent industry, said a statement from DED.

 

The ‘Business Map’ digital platform of DED, which 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, saw 23,979 business registration and licensing transactions being completed during the month of November, it added.

 

The number of aplications from trade name reservation has been put at 3,037, while the number of Initial Approvals reached 2,265, and the number of Commercial Permits hit 2,283, said the statement from DED. 

 

According to DED, a total of 136 instant licences had been issued last month.

 

The Instant Licence 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, it stated.

 

The Business Map showed that License Renewal accounted for 11,156 transactions during November, while 4,979 transactions were related to Auto Renewal via text messages, said the statement. 

 

The report also showed that the top nationalities who secured licenses in November 2018 were: India, followed by Pakistan, Egypt, Bangladesh, China, Saudi Arabia, Britain, Jordan, Sudan and the Philippines, it stated.

 

The outsourced service centres of DED issued 17,399 transactions, a growth of 72.5 per cent of the total BRL transactions issued in November (23,979), thus demonstrating their vital role in delivering value-added services to the public in Dubai.

 

The report highlighted that Bur Dubai accounted for the largest share (915) of the new licences distributed during November followed by Deira (831), and Hatta (2), said the report. 

 

The top sub-regions that accounted for 52.7 per cent of all the transactions were: Burj Khalifa (12.4 per cent), Port Saeed (10 per cent), Al Marar (4.6 per cent), Garhoud (4 per cent), Dubai World Trade Centre 1 (3.9 per cent), Al Barsha 1 (3.9 per cent), Al Khabaisi (3.4per cent), Naif (3.1per cent), Umm Ramool (2.9per cent), Al Karama (2.3per cent), and Hor Al Anz (2.2per cent), it stated.

 

Trade and repair services accounted for 36.9 per cent of the new licences issued in November followed by real estate, leasing and business services (22.4 per cent), building and construction (14.7 per cent), community and personal services (10.4 per cent), hotels group (4.9 per cent), transport, storage & communications (3 per cent), manufacturing (2.6 per cent), it added.-TradeArabia News Service