Nearly 2,500 companies were established in Dubai in March 2019.
Dubai witnessed stronger business activity in March through the establishment of nearly 2,500 new companies, creating over 9,600 jobs in a month alone.
According to the Department of Economic Development’s Business Registration and Licensing (BRL) section, 2,459 new licenses were issued in March 2019, a growth of 35.4 per cent, compared to 1,816 licenses issued in March 2018. The new licenses created 9,661 jobs in the labour market.
Among the new licenses issued, 58 per cent were commercial, 39.3 per cent professional, 1.9 per cent related to tourism and 0.8 per cent were for industry.
Trade and repair services accounted for 31.3 per cent of the new licenses issued in March 2019, according to the distribution of economic activities, followed by real estate, leasing and business services (27.7 per cent), building and construction (14.1 per cent), community and personal services (10.6 per cent), hotels group (5.5 per cent) and others. Hence, most of the jobs were also created in these sectors.
The report also showed that the top nationalities who secured licenses in March 2019 were citizens of India, followed by Pakistan, Bangladesh, Egypt, China, Jordan, the Philippines, Saudi Arabia, Lebanon, Canada and France.
According to Emirates NBD Dubai Economy Tracker, the emirate non-oil private sector economy expanded at a faster rate in March, with total business output increasing at the fastest rate since January 2015.