"Trakhees” Achieves Growth in Commercial Licensing Transactions in the 1st Half of 2024

The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, achieved growth in the transaction rate processed for clients in the Licensing Department during the first half of the current year 2024 compared to the same period last year, with over 24,000 transactions completed, in addition to registering 1,151 trade names for federal and free zone licenses.

Engineer Abdulla Belhoul, CEO of the Department of Planning and Development - Trakhees, affirmed that the department aims to support the national economy and Dubai's economic agenda D33, enhancing Dubai's position as a global destination capable of attracting quality investments. This is achieved through its established strategies focusing on service diversification and development of key sectors. He also emphasized that the department supports future economic activities and implements sound financial policies by updating flexible frameworks that support business and strengthening robust partnerships with various entities.

Eng. Abdulla Belhoul stated that, thanks to the infrastructure, digital capabilities, and the efforts of specialized teams in collaboration with partners, the department has worked on developing its services for the benefit of individuals and companies. These services include issuing commercial and work permits and others, aiming to meet the aspirations of business pioneers and investors in the emirate. This effort aims to propel Dubai to the forefront of investment destinations in the region, as well as to encourage the launch of small and medium-sized projects.

He further emphasized, "As part of our efforts to achieve balanced and sustainable economic performance, Trakhees Department provides an ideal business environment for investors and entrepreneurs regarding the necessary services for all small and medium-sized projects, adhering to the highest standards. During the first six months of 2024, the department completed over 24,000 transactions for federal and free zone licenses in specialized development zones under the supervision of the Ports, Customs, and Free Zone Corporation, in addition to government transaction services aimed at enhancing business continuity across various sectors”. 

Dr. Hamad Al Falasi, Director of the Licensing Department at the Department of Planning and Development – Trakhees, affirmed that the department has achieved significant growth in business activities related to all services provided in the commercial licensing sectors in the special development zones. He pointed out that the Trakhees Department is working to achieve the vision of Ports, Customs, and Free Zone Corporation to enhance Dubai's position as a sustainable leading center for supporting the global economic sector.

Al Falasi stated that official statistics released by Trakhees Department indicate an increased demand for federal licensing services from individuals and companies, reaching approximately 7,000 transactions since January of this year. The service for renewing federal licenses ranked first with 3,560 transactions, followed by the service for modifying federal licenses with 1,345 transactions, and new trade name reservation which reached 1,018 transactions.

In the same context, International City ranked first in the list of sites receiving federal licensing transactions with 225 licenses, followed by Palm Jumeirah in second place, then Dragon Mart, and followed by Jumeirah Village Circle. 

At the level of free zone license application services under the supervision of the "Trakhees" department, the total transactions reached 1,288, with the renewal of free zone licenses ranking first in the list of services requested by customers in this field, reaching 599 transactions during the first months of the current year. Additionally, 194 commercial permits were issued, and 133 trade names were reserved in those zones.

Regarding government service transactions, statistics indicated a 10% growth compared to the same period the previous year. This growth included an increase in the issuance of occupational health cards, reaching a total of 7,941 health cards accredited in Dubai. Furthermore, 3,074 transactions related to employment visa permits were completed.

The Director of the Licensing Department confirmed that the significant growth rates achieved during this period of the current year reflect the efforts made towards implementing a package of procedures and improvements for issuing commercial licenses, aimed at empowering the business community and maintaining Dubai's economic landscape.