Office towers in Business Bay
Office towers in Business Bay. Image Credit: Virendra Saklani/Gulf News

Dubai: A report by the Business Registration & Licensing (BRL) sector of Dubai Economy shows that the number of operating businesses in the Business Bay has reached 17,893 to date. Of these, 69 per cent are commercial (12,352), followed by professional (29 per cent, 5,137 licenses) and the rest related to tourism and industry. The report presents the volume of commercial activities in the Business Bay, providing the business community an overview of the opportunities available in the area.

The total number of investors in the Business Bay reached more than 52,000, and the percentage of businessmen reached 84 per cent of the total. General trade on the other hand topped the list of licensed activities operating in this vital area.

In terms of legal forms of the active licences in the Business Bay, limited liability company (LLC) ranked first at 58 per cent, followed by sole establishment (23 per cent), and civil company (9 per cent).

The Business Bay was built to be a private, commercial and residential complex as well as a new extension of the Dubai Creek from Ras Al Khor to Sheikh Zayed Road. It is one of the modern residential and commercial centers of Dubai, located in Dubai Canal, opposite the Downtown Dubai district. It is the ideal destination for businessmen, offering a range of residential and commercial properties, upscale amenities, and a fast-paced and contemporary lifestyle.