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Dubai’s Business Bay home to 17,893 companies with 69% commercial businesses

Dubai’s Business Bay home to 17,893 companies with 69% commercial businesses

Dubai’s Business Bay continues to be a commercial hub with 17,893 businesses operating out of it to date, a report by the Business Registration & Licensing (BRL) sector of Dubai Economy revealed. Of the total number of companies, 69 percent are commercial, followed by professional (29 percent, 5,137 licenses) with the rest relating to tourism

Dubai’s Business Bay continues to be a commercial hub with 17,893 businesses operating out of it to date, a report by the Business Registration & Licensing (BRL) sector of Dubai Economy revealed.

Of the total number of companies, 69 percent are commercial, followed by professional (29 percent, 5,137 licenses) with the rest relating to tourism and industry.

Meanwhile, the total number of investors in Business Bay reached more than 52,000, 84 percent of whom are businesspeople. General trade topped the list of licensed activities operating in the area.

Dubai seeks to attract 50 new multinationals after business shake-up

Priorities for the new Dubai Chambers also include fuelling trade in 30 international markets and the establishment of over 300 new start-ups

The Dubai Economy, through the BRL sector, maintains the centre’s business attractiveness through several initiatives such as the ease of start-up procedures, business registration, adoption of new e-services, and value-added services for licensed business owners.

Obtaining a trade license or launching a business in Business Bay is facilitated through ‘Invest in Dubai,’ the first integrated digital business set-up platform.

Located opposite Downtown Dubai, Business Bay is part of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. It was built to be a private, commercial and residential complex as well as a new extension of the Dubai Creek from Ras Al Khor to Sheikh Zayed Road.

In terms of legal forms of the active licences in the Business Bay, limited liability company (LLC) ranked first at 58 percent, followed by sole establishment (23 percent), and civil company (9 percent).

Legal forms also include one-person limited liability companies, branches of foreign companies, branches of companies based in other emirates, branches of free zone companies, branches of GCC companies, public shareholding companies, government liaison offices, general partnership, limited partnership, and private joint-stock companies.

As far as the residential sector is concerned, Business Bay was among the top five areas that saw an uptick in demand for apartments, as per Data Finder, the real estate insights and data platform under the Property Finder group.

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