Dubai is one of the most preferred investment destinations, that has garnered worldwide attention over the last few decades. This is evident from the number of licenses issued in November; the Department of Economic Development (DED) issued 1,748 new licenses during November 2018. 62.3% of the licenses issued were commercial and 35.2%professional.
In the month of November, the number of Trade Name Reservations stood at 3,037, and the number of Initial Approvals reached 2,265. The number of Commercial Permits were 2,283. The Business Registration and Licensing (BRL) also issued 136 instant licences.
11,156 transactions were carried out in November, with regard to license renewal and 4,979 transactions were related to Auto Renewal via text messages. The top nationalities that secured licenses in November 2018 were: India, followed by Pakistan, Egypt, Bangladesh, China, Saudi Arabia, Britain, Jordan, Sudan and the Philippines.
The outsourced service centres of DED also plays a significant role in delivering value-added services to Dubai residents; they were successful in issuing 17,399 transactions.
Maximum number of licenses were issued in Bur Dubai, which was followed by Deira and Hatta. The top sub-regions that accounted for 52.7% of the total transactions were: Burj Khalifa, Port Saeed, Al Marar, Garhoud, Dubai World Trade Centre 1, Al Barsha 1, Al Khabaisi, Naif , Umm Ramool, Al Karama and Hor Al Anz.
Out of the total licenses issued, 36.9 were to trade and repair services, followed by Real estate, leasing & business services (22.4%), Building & Construction (14.7%), Community & personal services (10.4%), Hotels group (4.9%), Transport, storage & communications (3%), Manufacturing (2.6%), Financial brokerage (2.1%), Health & labour (1.7%), Education (0.6%), Agriculture (0.4%), and Mining & Natural Resources (0.3%).