Dubai: The city of Dubai continues to attract new businesses, with the emirate’s licensing division recently approving close to 2,000 permits.
The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED) of Dubai issued 1,748 new licenses in November 2018, a testament that Dubai remains a destination of choice for investment in diverse business sectors.
And it looks like Indians, Pakistanis and Egyptians were among the most entrepreneurial last month, while the commercial locations in Bur Dubai and Deira were among the most sought after.
According to the latest data, the top nationalities who secured licenses in November were India, followed by Pakistan and Egypt.
Top 10 nationalities who obtained permits in November
- Saudi Arabia
Among the 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.
According to state news agency WAM, the DBusiness Map’ digital platform of DED also saw 23,979 business registration and licensing transactions being completed during the same period.
There were also a total of 3,037 “trade name reservation” requests made, while the number of initial approvals reached 2,265, and the number of commercial permits reached 2,283.
Business conditions in Dubai are showing signs of improvement, with companies adding new jobs and getting busier than in the previous months.
The latest analysis by Emirates NBD showed that companies in in the non-oil private sector improved strongly in November after a slump a month earlier.
Also in November, Dubai's BRL issued 136 instant licences, or permits issued in a single step without the need for certain requirements like an existing location for the first year only.
License renewals accounted for 11,156 transactions, while 4,979 transactions were related to auto renewal via text messages.
The report highlighted the distribution of the new licenses during November 2018 according to the main areas in Dubai, with Bur Dubai accounting for the largest share (915), followed by Deira (831), and Hatta (2).