Dubai's five most popular spots to start a new business

Al Garhoud tops the list of areas that account for 43.7% of the total new business licences issued during the first half of 2020

Al Garhoud saw the most number of new businesses set up in the first half of 2020, Dubai Economy says in its latest report. Courtesy Dubai Economy.

Dubai's Al Garhoud neighbourhood emerged as the most popular area to set up a new business in the emirate, with the Burj Khalifa area, Oud Al Muteena, Trade Centre, and Oud Metha rounding up the top five spots.

Together, the five districts accounted for 43.7 per cent of the 16,826 new business licences issued in the first six months of 2020, Dubai Economy said in a statement on Saturday.

It did not provide a year-on-year comparison for the number of licenses issued for these areas.

Al Garhoud attracted the most highest of new businesses during the first six months of the year, accounting for 15 per cent of the total number of new permits issued in the emirate.

Some 2,535 new businesses opened in Al Garhoud, with ‘professional’ services accounting for the largest share. Of the new licences, 97 per cent were issued for businessmen, with just 2.2 per cent issued to female entrepreneurs and 0.8 per cent to companies.

"The popularity of 'Al Garhoud' is led by the number of commercial and residential complexes in the area and its proximity to the Dubai International Airport, the City Centre Deira and Dubai Festival City Mall," Dubai Economy, which issues business permits outside free zones in the emirate, said.

The Burj Khalifa area in Downtown Dubai attracted 2,022 new licenses during the first half of 2020, representing 12 per cent of the total number of new permits.

Commercial activity accounted for the largest share – 59.6 per cent – of the total number of active licenses, followed by licences for professional activity at 38.3 per cent.  Male entrepreneurs were granted 95.3 per cent of all new licenses, while businesswomen formed 2.8 per cent and companies 1.9 per cent.

The area, named after the world's biggest tower, is home to the Dubai Mall, a number of luxury hotels, international company offices and upscale residences.