Printer Friendly

Dubai Economy records brisk licencing and registration activity in November 2017.

The Business Registration & Licencing (BRL) sector in Dubai Economy witnessed a record number of transactions over November 2017, reflecting a strong confidence in the emirate's competitiveness and sustainable growth among businesses and investors in diverse industries.

'Business Map,' the digital information platform of Dubai Economy, reported that more than 24,746 BRL transactions were concluded and 1,666 new business licences were issued in November.

The 'Business Map' platform seeks to reflect the economic climate in Dubai by providing vital data on each category of licences and investor trends on a monthly basis. The report provides extensive data that mirror Dubai's business realities including accurate information on the number of new licences and their sector-wise distribution.

Renewal transactions accounted for 11,623 of the transactions in November, Initial Approvals amounted to 2,170 in November 2017, and there were 3,261 renewals. Commercial permit procedures accounted for 2,783 transactions while there were also 1,774 related to Auto Renewal, 149 Instant licences and 63 eTrader licences were also handled by BRL during the month.

Overall BRL activity in November shows that Dubai economy maintained its growth and achieved a qualitative shift in various categories. Transactions related to Commercial licences topped the list with 59.2 per cent, Professional licences stood at 38.5 per cent, Industrial licences accounted for 1.2 per cent and Tourism had a share of 1.1 per cent. The outsourced service centres of Dubai Economy also registered strong activity in November, completing 19,997 transactions and underlining their role in facilitating service delivery.

Region-wise, Bur Dubai had the lion share of licences (762) issued in November, Deira had 721, New Dubai area had 177 and Hatta had six.

The top ten sub-regions accounted for 53.2 per cent of the total licences among all the regions in Dubai. These were: Burj Khalifah (12 per cent), New Dubai (10 per cent), Al Marar (nine per cent), Port Said (4.3 per cent), Naif (3.5 per cent), Al Mankhool (3.5 per cent), Hor Al Anz (3.1 per cent), Trade Centre 1 (2.9 per cent), Al Barsha 1 (2.8 per cent) and Al Garhoud (2.1 per cent)

The various categories of BRL activity in November 2017 also indicate economic activity and investments almost equally distributed across different areas and vital sectors in Dubai, thus confirming the significant achievements the emirate has made in terms of sustainability. Commercial and repair services accounted for 23.5 per cent of activities covered by the transactions during the period, followed by real estate, leasing and business services (22.4 per cent), building and construction activity (14.9 per cent), community and personal services (11.3 per cent), hospitality and hotels (5.8 per cent), manufacturing (2.5 per cent), Transportation, storage and communications (2.4 per cent), financial brokerage (2.3 per cent), and health and education (both 0.5 per cent)

[c] 2017 CPI Financial. All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2017 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPI Financial
Geographic Code:7UNIT
Date:Dec 13, 2017
Words:501
Previous Article:Gulf Capital closes three new growth capital transactions in Egypt, Africa and Turkey.
Next Article:Winners of 12th annual Islamic Business & Finance Awards revealed at gala dinner.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters