In a recent report shared by ‘Dubai Business Map’ (DBM), DED marked a benchmark month of trade license registration and overall transactions. DBM is a smart digital platform that provides an interactive guide to investors and business oriented professionals to explore trade licenses and activities indicators.
According to the DBM report, the Business Registration & Licensing sector of the DED Dubai successfully completed 17,710 transactions with 1,221 new trade license registrations in the month of August. The rest of the transactions accounted for 9,071 trade license renewals, 2,111 Trade Name Reservations and 1,475 Initial Approvals in August.
The report also revealed a record new use of Auto Renewal facility for existing licenses by companies 4,271 times. There were also 84 e-Trader license transactions and 60 related to Instant Licenses. According to Business Map, the purpose of the report is to identify the current business climate of Dubai and expose active trends in company formation sectors through a positive economic outlook.
From the current statistics collected in the report for August, the BRL activity shows rising interests of foreign investors as Dubai’s capability to attract business setup prospects into its diverse sectors increases with Commercial (60.7%), Professional (36.2%), Tourism (1.8%), and Industrial (1.3%) respectively. The numbers also reflect promising FDI inflows for the upcoming World Expo 2020.
Service centers also played a pivotal role in providing premier services to DED customers. The total transaction from Service Centers of DED bagged the highest percentage of the total transactions which reached 12,262 accounting for 69.2%.
Bur Dubai, Deria and Hatta ranked in the top regions that got most license registrations with 645,574 and 2 respectively. The sub-region-wide distribution declared Burj Khalifa the winner with 13% transactions, followed by Al Marar (7.5%), Port Saeed (7%), New Dubai (6.9%), Naif (5.5%), Dubai World Trade Centre 1 (5%), Al Garhoud (4.7%), Al Rigga (2.6%), Al Karama (2.2%), Al Muraqqabat (2.1%) and Hor Al Anz (2.1%) from the total.
The main activities which accounted for majority new license registrations were Trade & Repair (36.5%), Real Estate, Leasing and Business Services (28.6%), Building & construction (17.1%), Community & personal services (12.4%), Hotels group (7.3%), Transport, storage and telecommunications (4.8%), Manufacturing (4.1%), Financial brokerage (1.8%), Agriculture (0.8%), Health & labour (0.7%), Education (0.6%), and Mining (0.1%).
The stats from DBM report also showed the top ten nationalities behind the transactions, starting from Indians, Pakistanis, Egyptians, Chinese, Saudis, British, Jordanians, Bangladeshis, Sudanese, and Germans.