The increase in number of commercial licenses issued in Abu Dhabi point towards a higher commercial activity. The number of commercial licenses issued in first quarter of 2012 crossed 2000 mark.
The total number of commercial licenses issued has reached 105,953. 17,866 business owners renewed their commercial licenses during first quarter. 2161 new licenses were issued during the first quarter.
However, there is growing concern about lower credit facility available to business owners in UAE compared to Qatar, Oman and Saudi Arabia. Due to less number of options for raising capital, small and medium enterprises find it difficult to expand business.
CBRE report has indicated that Abu Dhabi economy is expected to grow at 5 per cent this year. With more business owners thinking of expansion in their business, economic growth can also lead to rise in real estate and rental prices in the Emirate.