Dubai issues almost 17K biz permits in H1

dubai — Five areas in Dubai have accounted for 43.7 per cent of the total new business licences issued during the first half of 2020, according to a new report from Dubai Economy.

The government agency’s Business Registration and Licensing Sector said that 16,826 new business licences were issued in the first six months of 2020.

The five most popular areas were Al Garhoud, which saw the most number of new businesses accounting for 15 per cent of the total, followed by the Burj Khalifa area (12 per cent), Oud Al Muteena 3 (6.5 per cent), Trade Centre 1 (5.2 per cent) and Oud Metha (4.8 per cent).

Al Garhoud attracted 2,535 new licences, with professional activity accounting for the largest share. Out of 12,192 businesses operating in the area, 6,096 hold professional licences, nearly 50 percent, followed by

5,940 commercial licences (48.7 per cent). Of the new licences, 97 per cent were issued for businessmen, 2.2 per cent were issued to women entrepreneurs and 0.8 per cent to companies.

In terms of legal forms of active licences in Al Garhoud, limited liability companies (LLCs) ranked first with 5,758 licenses, followed by civil companies (4,102) and sole establishments (1,820). The Burj Khalifa area attracted 2,022 new licenses during the first half of 2020. Commercial activity accounted for the largest share (59.6 per cent) at 21,941, followed by licences for professional activity (38.3 per cent).

Businessmen formed 95.3 per cent of the total, while women entrepreneurs formed 2.8 per cent and companies 1.9 per cent. In terms of legal forms, LLCs came first with 12,720 licences, followed by sole establishments (4,231) and civil companies (3,201).

The popularity of Al Garhoud is led by the number of commercial and residential complexes in the area and its proximity to the Dubai International Airport, the City Centre Deira and Dubai Festival City Mall. The Burj Khalifa area is popular being part of Downtown Dubai, a leading tourist destination.

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