A recent analysis conducted by Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that 29,000 new companies operating in the trading and services sector joined the chamber during 2024.
This significant growth reflects the sector’s pivotal role in Dubai’s economic diversification.
According to Zawya, the emirate’s construction activity remained robust through 2024 as the sector grew by nearly 3.8 percent in the third quarter of 2024 compared with the same period of 2023.
A report by Dubai’s statistics centre showed the construction sector’s contribution to GDP stood at around 6.6 percent with a value of nearly 7.2 billion UAE dirhams ($1.96 billion) while the real estate GDP share was estimated at 8.1 percent with a value of AED8.77 billion ($2.38 billion).
The Dubai Chamber press release said the construction sector also witnessed substantial growth in memberships, with 7,434 new companies joining the chamber in 2024, representing an increase of 33 per cent compared to 2023.
A total of 23,204 new companies operating in the real estate, renting, and business services sector joined the chamber last year, reflecting annual growth of 8.4 per cent, while 5,901 new companies in the transport, storage, and communication sector joined the chamber, an increase of 8.3 per cent over 2023’s figure.
The financial intermediation sector also expanded, with 1,830 new companies joining the chamber, representing growth of 8.3 per cent.
A total of 70,500 new companies joined Dubai Chamber of Commerce during 2024, reinforcing Dubai’s position as a global investment hub that offers exceptional competitive advantages for businesses worldwide.
