Dubai investor confidence 'robust' in July as 1,651 licences issued

Dubai's Department of Economic Development witnesses 24,489 transactions related to business licensing and registration during July
Dubai investor confidence 'robust' in July as 1,651 licences issued
By Sam Bridge
Fri 24 Aug 2018 09:46 AM

Investor confidence in Dubai remained robust during July with the Department of Economic Development (DED) witnessing 24,489 transactions related to business licensing and registration.

A total of 1,651 licences were issued during the month in addition to 12,532 license renewals and 2,175 initial approvals, according to data recorded by DED’s Business Registration & Licensing (BRL) sector.

Its Business Map tracks business registration and licensing in DED and seeks to reflect the economic realities in Dubai by providing vital data on each licence category, a statement said.

Among the total transactions recorded in July, 3,128 were related to trade name reservation and 1,268 to commercial permits. Auto renewal transactions amounted to 5,918, instant licenses stood at 101 and 102 transactions were related e-trader licences.

BRL activity in July reflected momentum across all sectors as new licences covered the commercial (60.5 percent), professional (36.8 percent), tourism (1.4 percent) and industrial (1.3 percent) categories, the statement said.

The distribution of new licences showed Bur Dubai accounted for the lion's share with 798 of the licences, while Deira had 712, New Dubai 133 and Hatta, eight.

The construction sector accounted for most of the new licences issued (17.3 percent) while Indians, Pakistanis, Egyptians, Chinese, British, Saudis, Jordanians, Syrians, and Kuwaitis were the top nationalities of BRL customers during July.

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