450 Saudi firms established in Dubai YTD: Dubai Chambers CEO

Dubai Chamber's headquarters

The number of new Saudi firms established in Dubai has reached about 450 since the beginning of this year, bringing the total number of Saudi companies that are members of Dubai Chambers to 8,000, Mohammad Lootah, President and CEO of Dubai Chambers, told Asharq News. 

Meanwhile, the number of new companies established in Dubai grew in the first eight months of 2023 by 40% to 41,000, including 14,000 companies from the GCC, Lootah added. 

The Saudi market accounts for the largest share of Dubai Chambers member companies’ exports. 

Most of the new licenses were issued in the services, real estate, transport, and logistics sectors, the top official said, noting an increase in the number of digital companies to 14,000. 

 

Lootah indicated that Dubai Chambers plans to open two new offices in Western and Northern Europe within a month, increasing the offices in that region to five.

 

Meanwhile, it aims to expand in Africa, Latin America, and ASEAN markets. 

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