Dubai: Dubai recorded 15,475 new licenses in the first three months of 2021, a sharp 19 per cent gain on the same period last year. It confirms recent market talk of increased business activity, especially in the startup space.
Of the new licenses issued this quarter, 58 per cent were for professional services (8,935), followed by 41 per cent on commercial activities (6,290), and the rest distributed among the tourism and industrial activities. In terms of distribution of the new licenses according to location, Bur Dubai accounted for the largest share (8,220) of the licenses issued, followed by Deira (7,236), and Hatta (19). The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.
During the first quarter, 99,887 business registration and licensing transactions were completed, a growth of 8 per cent compared to 92,325 in Q1-2020, demonstrating the “vital role of Dubai Economy in delivering value-added services to the public in Dubai,” according to a statement issued by the government department.
License Renewal accounted for 38,090 of transaction numbers, a 4 per cent gain.
The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences.
According to the Business Registration & Licensing (BRL) division, 15,475 new licenses were issued during the first quarter, a growth of 19 per cent compared year-on-year.