Business News
Dubai Economy identifies most preferred areas for new businesses in Dubai
Dubai: A report issued by the Business Registration & Licensing sector of Dubai Economy highlights the most popular areas across the city for setting up new business.
As per the report, five areas account for 43.7 per cent of the total new business licences issued during the first half of this year. Dubai Economy had issued 16,826 new business licences in the first six months of 2020.
Al Garhoud saw the most number of new businesses, accounting for 15 per cent of the total, followed by the Burj Khalifa area (12%), Oud Al Muteena 3 (6.5%), Trade Centre 1 (5.2%) and Oud Metha (4.8%).
Al Garhoud attracted 2,535 new licenses, with ‘Professional’ activity accounting for the largest share. Out of 12,192 businesses operating in the area, 6,096 hold Professional licences, nearly 50 per cent, followed by 5,940 Commercial licences (48.7 per cent of the total). 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.
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In terms of legal forms of the active licenses in Al Garhoud, Limited Liability Company (LLC) ranked first with 5,758 licenses, followed by Civil Company (4,102 licenses) and Sole Establishment (1,820 licenses).
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) of the total number of active licenses at 21,941, followed by licences for Professional activity at 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, Limited Liability Company (LLC) came first with 12,720 licenses, followed by Sole Establishment (4,231) and Civil Company (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.