Dubai sees 5.6% rise in business licences issued during Q2

The Department of Economic Development (DED) in Dubai has said it has seen a marked increase in the number of transactions related to business licences as well as the number of licences issued during the second quarter of 2016.

Transactions concluded during the quarter reached 119,630, which was 34.9 percent higher than the 88,688 transactions during the same period of the previous year, while the number of new licences issued in Q2 reached 6,391, an increase of 5.6 percent over Q2 2015.

A further 45,295 licences were renewed during Q2 against 29,575 during the same period of 2015, marking a growth of 53 percent.

Commercial licences had the largest share of the renewed licences at 67.8 percent while 30 percent were professional licences and industrial as well as tourism licences each had a share of 1.1 percent.

Source