As Dubai gears up for a robust economic growth in the final quarter of 2024, A&A Associate, the largest business setup advisory in the UAE, has its sights set firmly on incorporating a record 1,000 companies within a single month. This target builds on the firm's recent milestone of facilitating over 730 company formations last month, reflecting the soaring demand from entrepreneurs eager to take advantage of the UAE's dynamic business landscape.
The emirate's projected economic growth is driven by key sectors, such as real estate, tourism and technology, and A&A Associate is positioning itself at the forefront of this upswing. The UAE's favourable business environment, fuelled by over 40 free trade zones, long-term Golden residency options for investors, zero income tax and innovation-driven policies, continues to attract both startups and established businesses from around the globe.
"We registered 730 new companies alone in what was a record month for any business setup firm in the UAE. Our aim now is to incorporate 1,000 companies in a single month, underscoring our integral role in Dubai's amazing growth story," said Robin Philip, founder and CEO of A&A Associate that registered 1,845 new companies in 2024 Q1, a record 51 per cent year-on-year growth compared to last year.
Deepak Karkera, VP at A&A Associate, highlighted the firm's rapid growth and expertise: "Our evolution from a small team to a powerhouse of over 300 experts is a testament to our dedication and the trust that thousands of businesses place in us today. We are prepared to meet the increasing demand for business setups and deliver unmatched results in the UAE's thriving business ecosystem."
A&A Associate has been instrumental in driving the UAE's economic diversification since its inception in 2016, working closely with government entities to streamline the company formation process across mainland, free zone, and offshore jurisdictions. The advisory is committed to supporting this economic expansion by enabling entrepreneurs to capitalise on the vast opportunities available in the UAE, added Philip, whose award-winning firm was included in the list of UAE's Best Workplaces for 2024 this year besides achieving 'Super brand' status.
"Dubai remains competitive compared to many countries despite higher interest rates and cost of living. And this is the real reason for the emergence of new companies that are robust and independent of easy credit," he said, referring to a "huge rise" in companies investing in the tech space, in e-commerce and other online services.
According to experts, the 2024 economic outlook remains positive, with expected GDP growth of four per cent propelled by sustained public infrastructure investments and expansion of non-oil sectors. In Dubai, the government is implementing the D33 Economic Agenda, which focuses on innovative projects, foreign investment and trade; while in Abu Dhabi, the government is focusing on doubling manufacturing capacity with key stakeholders like ADNOC investing in hydrogen.
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