Economic activity in Dubai remained stable and escalated during the first quarter of 2013, according to the Department of Economic Development (DED).
The department stated it issued 4,582 business licenses during this period which is four percent higher than the 4,414 licenses issued during the same period in 2012. The professional sector at 24 percent accounted for the major share of licenses in Q1, 2013 followed by the commercial and industrial sectors.
"Confidence in Dubai is on an upswing with the emirate emphasizing on overall competitiveness and sustained investment in infrastructure. While existing businesses in Dubai are venturing further out and spreading their wings, a growing number of investors are also sensing the ideal conditions to step forward," said Saeed Matar Al-Marri, deputy CEO of business registration and licensing (BRL) sector in DED.
The total number of amended licenses in Q1, 2013 was 18,977, up six percent from 17,843 in Q1, 2012 while the total number of renewed licenses grew four percent to 28,323, as against 27,247 during the same period in the previous year. The total number of transactions rose seven percent to 158,588 in Q1, 2013, from 147,770 during Q1, 2012.
The total number of commercial permits issued in Q1, 2013 was 8,305, up seven percent from the same period in 2012, while the total number of reserved trade names reached 18,601, a five per cent increase from 17,738 in 2012.
The total number of commercial activities licensed in Q1, 2013 was 11, 461, with general trade leading the list of the top 10 licensed activities (619 licences) followed by dyes and paints (301 licenses), tiling of floors and walls (301), carpentry and flooring (295), readymade garments (288), sanitary extensions and wares (276), installation of ventilation, air purification and air conditioning systems (270), installation of suspended ceilings and light cut-outs (269), perfumes and cosmetics (257) and gifts (237).
The number of professional activities licensed in Q1 2013 reached 2,925. Special-purpose facilities activity led the list of the top 10 licensed activities in this category with 236 licences followed by restaurants (152), cleaning services for buildings and residences (151), cafes (89), business services (69), beauty and personal care centers for women (57), women’s salons (55), transactions follow-up services (52), consultations and administrative studies (50), and extensions repair, sanitary wares and plumbing (48).
In the tourism sector, inbound tourism was the leader with 39 licenses, followed by travel and tourism agencies (7), foreign tour operators (4), hotels (2), air charter service agents, motels and hotel apartments with one license each.