Dubai-based Star Business Centre first to help start-ups with rent deferment to 2019
Dubai, UAE, May 24, 2018: The first of its kind Ramadan offer allows ready businesses, start-ups and distressed companies to commence operations immediately and pay rents and related costs in 2019, when their financial position is better-off.
The business incubator-like initiative benefit new investors to kick-start, grow, diversify and expand across the business.
The initiative comes at a time when Dubai is making concerted efforts to bring in new businesses and investments in the Emirate, while, Dubai Economic Department issues 1,848 new business licenses in April 2018. It reflects Dubai as a business hub in the Middle East.
The ‘Business Map’ digital platform of the Dubai Economic Department saw 26,498 business registration and licensing transactions being completed April 2018 as economic diversification and competitiveness continued to strengthen the emirate’s ability to sustain business growth.
During the holy month of Ramadan, the two Star Business Centres are offering their available 20 per cent of serviced office spaces out of their 400 office spaces. Rest of 80 per cent is fully occupied by multiple commercial tenants. Each office space spans 200 square-feet with the total rent of Dh5750 a month.
The Star Business Centre offers state-of-the art workspaces in Dubai’s sought-after business districts, Business Bay and Jumeirah Lake Towers. The centre frees-up investors of the hassles that come with leasing conventional office spaces or building their own offices.
“We have received overwhelming response for our offer of deferred rents and costs from business people who lack funds to start with. The welcome response has encouraged us to extend the offer for a longer period and plans to establish a new business centre in 2019 at the commercial hub of Dubai,” revealed Imran Farooq, Chief Executive Officer of the Star Business Centre, which is an entity of Dubai-based Samana Group of Companies.
Samana Group’s Star Business Centre empowers businesses to take advantage of many investment opportunities in Dubai. The centre also provides start-ups with many types of assistances – such as helping complete the required business incorporation documentation, secretarial services, stat-of-the-art IT setup and coffee shops.
The Star Business Centre – dealing in mainland and freezone business set-ups – is a cost-effective, one-stop-shop for new businesses, multinationals, SMEs and the companies who are planning for re-structuring – with zero hidden charges.
According to Dubai Economic Department, the ‘Business Map’ tracks business registration and licensing and reflects the economic realities in Dubai by providing vital data on each license category, including their numbers and distribution as well as investor trends on a monthly basis. Overall business registration and licensing (BRL) activity and its distribution across sectors and areas in the emirate reaffirms improved investor confidence in the expansionary spending policies and growth potential in Dubai.
The Business Map showed robust economic activity where license renewals accounted for about 12,670 transactions in April 2018 while 3,305 transactions were related to Trade Name Reservation, 3,778 to Auto Renewals, 87 to Instant Licenses and 117 transactions to e-Trader licenses.
The distribution of BRL activity across sectors, categories and areas also underline the broad appeal that Dubai retains as a business and investment hub as well as the advanced sustainability levels achieved by the emirate. Among the new licenses issued, 58.6% were Commercial, 38.9% Professional, 1.5% related to Tourism and 1%, Industrial.
Bur Dubai accounted for the lion’s share (854) among the new licenses, Deira had 834, New Dubai 150, and Hatta 10. The top 10 sub-regions that accounted for 56% of all the transactions were: Burj Khalifa (12.6%), New Dubai (9.3%), Al Marar (6.8%), Naif (5.3%), Garhoud (4.8%), Port Saeed (4.6%), Dubai World Trade Centre 1 (4.4%,) Hor Al Anz (3.5%), Karama (2.4%), and Al Wasl (2.3%).
The outsourced service centres of DED continued to witness hectic activity in April too accounting for 20,146 transactions, or 74% of the total, demonstrating their vital role in delivering value-added services to the public in Dubai.
Trade & repair services accounted for 35.7% of the April 2018 transactions, followed by Real estate, leasing & business services (22.5%), Community & personal services (12.5%), Construction (11.6%), Hotels group (8.1%), Transport, storage & communications (3.4%), Manufacturing (3.2%), Financial brokerage (2.3%), Education (1.4%), Health & labour (0.9%) and Agriculture (0.7%).
The top 10 nationalities among BRL customers in April were India, Pakistan, Egypt, China, Britain, Syria, Jordan, Lebanon, Saudi Arabia and Bangladesh in that order.
About Star Business Centre:
The Star Executive Business Centre and Star Business Centre DMCC are modern facilities situated in Business Bay and JLT, the country’s business hub, and houses state-of-the-art, fully-equipped serviced offices. It allows companies and start-ups to set up their offices at the facility that reduces the hassles that come with renting a traditional office space. It’s literally plug and play for new business owners – who could rely on the best services to new investors. The finest serviced office suites put together by the top architects, designers, and ergonomics specialists in the country who were pooled specifically to create the perfect meeting point for businesses as well as an excellent range of top-notch services and support facilities, can help reduce the cost of start-ups and the burden to set up offices.
About Samana Group:
Samana Group of Companies is a Dubai-based well-diversified and well-established business conglomerate comprising of eight companies engaged in immigration consultancy services, investment advisory, real estate development, property brokerage and asset management, playing their role in the UAE and GCC economies. Each company is a full-fledged professional and business entity, with proper business model, state-of-the-art facilities and managed by fully dedicated professional staff.
Samana Group offers diversified services to its clients. Samana Group’s strength is in its highly professional and transparent approach. The group companies render Business Management, Immigration Services and Real Estate investment and Development services with outstanding professional approach. Samana Group includes Premiers International, Star Business Centre, Global Migration Services, AAA Associates, Samana Developers, Capital Investment Company Limited and Reliance Star Properties.