Wednesday 27 September 2023 - 4:25:30 pm

Al Quoz has 12,437 operating companies to date: Dubai Economy

DUBAI, 18th May, 2021 (WAM) -- Dubai's Department of Economic Development (Dubai Economy) has announced that the number of operating businesses in Al Quoz has reached 12,437 to date, according to a report by its Business Registration & Licensing (BRL) Sector.

Of these businesses, 73 percent are Commercial, followed by Professional at 20 percent, and the rest related to Tourism and Industry. The report presents the volume of commercial activities in Al Quoz, providing the business community an overview of the opportunities available in the area.

The report shows that the rate of distribution of the active licences in Al Quoz's top three sub-regions; Al Quoz 3, Al Quoz 1 and Al Quoz Industrial 2, reached 59 percent of the total number of active companies in the locality.

In terms of legal forms of the active licences in Al Quoz, Limited Liability Company (LLC) ranked first at 68 percent, followed by Sole Establishment (21 percent), and Civil Company (6 percent).

The legal forms also include One-Person Limited Liability Companies, Branches of Companies based in other Emirates, General Partnership, Branches of GCC Companies, Branches of Free Zone Companies, Branches of Foreign Companies, Public Shareholding Companies, Private Joint-Stock Companies, Limited Partnership and Social Media Channels.

In April 2021, Dubai government launched the Al Quoz Creative Zone, a unified and integrated centre to serve creative people from all over the world, in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to transform Dubai into the global capital of the creative economy by 2025. This will strengthen the emirate's position as a regional and international centre for the creative economy within an integrated system that would contribute to achieving Dubai’s comprehensive economic development.

Al Quoz is divided into commercial and residential areas. The residential areas include Al Quoz 1, 2, 3 and 4 to the north, whereas Al Quoz Industrial Areas 1, 2, 3 and 4 are located towards the south. The commercial district has several factories and warehouses.

The Al Quoz Creative Zone will cover a range of fields including publishing, writing, print and audio-visual media such as cinema, music and video, as well as artistic and cultural industries, cultural heritage museums, historical sites, archives, major cultural events, libraries, and the software and video gaming industry. It will also include design in all its variations, related to fashion, gaming, software, or architecture.

Dubai Economy’s strategy focuses on enhancing ease of doing business, as well as driving the overall competitiveness and sustainable growth of Dubai. The BRL sector offers several initiatives such as ease of start-up procedures, business registration, adoption of new e-services, and value-added services for licensed business owners.

‘Invest in Dubai,’ a unified digital platform, offers the most competitive means to launching a business in Dubai. It simplifies business journey and allows to complete services and transactions without the need to visit service centres.

The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences, enabling individuals to easily start their businesses by visiting or calling 600 500 006.

WAM/Amjad Saleh/Hazem Hussein