Dubai Business Licenses Up 12% In Q4 2013

Dubai’s Department of Economic Development (DED) issued a total of 4,573 licenses during the final three months of 2013, up 12 per cent compared to the same period in 2012.

The tourism sector saw a 29 per cent year-on-year increase in licensing activity with the commercial and professional sectors witnessing a 12 per cent and 11 per cent increase, respectively.

Commercial licenses accounted for around 73 per cent of total licenses issued in Q4 2013 – the largest share – while the professional sector constituted around 25 per cent of all licenses, the agency said in a statement.

The tourism and industrial sectors each accounted for one per cent of the licenses issued during the period.

“New opportunities and new beginnings have added to the growing economic momentum in Dubai as is evident from the rising number of licenses being issued,” said Saeed Matar Al Marri, deputy CEO of Business Registration & Licensing (BRL) sector in DED.

“More and more investors will step forward as Dubai pushes ahead with adding new economic sectors and enhancing competitiveness as well as ease of doing business.”

The number of reserved trade names also rose by 18 per cent, reaching 18,509 in the final quarter of 2013, DED said.

General trade licenses topped the list of commercial activity licenses issued in Q4 2013. Under the commercial category, tiling of floors and walls, dyes and paints, carpentry and flooring were the other most licensed activities.

Among professional activities, cleaning services for buildings and residences led the list with 223 licenses followed by licenses for special purpose activity and restaurants.

Around 39 licenses were issued in the tourism sector during the last quarter with travel and tourism agencies, leased hotel apartments and hotels the other top licensees.

Construction metal parts, salt packaging and fruit canning, doors and interiors and repair of boats & ships were the main activities licensed in Q4 2013, DED said.

Dubai trade licenses have been increasing steadily since 2012, signaling the recovery of markets and rising business confidence.

Reports estimate that Dubai’s GDP growth could quicken to over five per cent in 2015 from 4.7 per cent this year as the emirate prepares to host Expo 2020.