(MENAFN- Khaleej Times) The business registration and licensing (BRL) sector in Dubai Economy witnessed a record number of transactions in 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.
Renewal transactions accounted for 11,623 of the transactions in November and initial approvals amounted to 2,170. 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.
Bur Dubai had the lion's share of licences (762) issued in November, Deira had 721, New Dubai had 177 and Hatta had six.
The top 10 sub-regions accounted for 53.2 per cent of the total licences among all regions in Dubai. These were: Burj Khalifa (12 per cent), New Dubai (10 per cent), Al Marar (9 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 also indicate economic activity and investments almost equally distributed across different areas and vital sectors in Dubai.
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).
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Issac John Associate Business Editor of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.
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