Dubai attracts 1,509 new investors in Sep
dubai — Indians, Pakistanis and Chinese were among the top nationalities to secure new licences in Dubai in September as the emirate recorded a 25 per cent increase in business registrations and licensing transactions in contrast to a general slowdown elsewhere in the region.
The ‘Business Map’ digital platform of the Dubai Department of Economic Development (DED) registered 22,113 business registration and licensing transactions being completed during the month of September, compared to 17,710 transactions in August.
Other nationalities who secured licences in September included Bangladesh, Saudi Arabia, Jordan, the US, Sudan and the Philippines.
“This confirms the position of Dubai as a business and investment hub as well as the emirate’s advanced sustainability standards,” the DED said in a statement.
In September, the Business Registration and Licensing (BRL) sector in the DED issued 1,509 new licences, an increase of 23.6 per cent compared to August, as Dubai remained a destination of choice for investment in diverse business sectors. Among the new licences issued, 64.1 per cent were commercial, 34 per cent professional, 1.1 per cent related to tourism and 0.8 per cent industrial.
The BRL sector also issued 94 instant licences, an increase of 56.7 per cent compared to August. The instant licence is issued in a single step without the need for either the MOA (memorandum of association) or an existing location for the first year only.
The Business Map showed that licence renewal accounted for 11,072 transactions during September, an increase of 22.1 per cent compared to August; 5,146 transactions were related to auto renewal via text messages, an increase of 20.5 per cent compared to August, the DED said.
Trade name reservations showed an increase of 32.2 per cent to 2,790, while the number of initial approvals reached 1,969, up 33.5 per cent compared to August. The number of commercial permits reached 1,614, a growth of 19.8 per cent.
The outsourced service centres of DED continued to witness hectic activity in September, accounting for 14,694 transactions, a growth of 19.8 per cent compared to August, demonstrating their vital role in delivering value-added services to the public in Dubai.
Bur Dubai accounted for the largest share (787) of new licences during September, followed by Deira (721) and Hatta.
Trade and repair services accounted for 35.9 per cent of new licences issued in September, followed by real estate, leasing and business services.