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Are you an investor planning to set up a business in Dubai? The retired luxury ocean liner Queen Elizabeth 2 (QE2) is now onboarding investors and startups keen on building fortunes in the emirate.
KIKLABB, an entity owned by the Dubai government, has announced that it will issue trade licenses and provide intelligent workspaces for businesses at the luxurious QE2.
The iconic cruise ship of yesteryear is now a floating hotel in Dubai.
“We’re trying to make the whole ecosystem of getting a license in one place very easy,” Tasawar Ulhaq, CEO of KIKLABB told reporters at the opening of its first facility at QE2.
Spread over 25,000 square feet, KIKLABB offers private offices, co-working spaces and flexi desks, along with issuing Dubai Free Zone and on-shore DED licenses.
“Our license starts at 18,000 dirhams (annually) and you can get it directly from us or through our agent partners,” Ulhaq added.
“We started off the year with an offer where you can get a license, workspace and everything included for 20,200 dirhams, with our 2020 offer,” Ulhaq said, noting, that the offer has now expired.
KIKLABB will provide its services for international companies, SMEs, start-ups, investors, and entrepreneurs.
Demand for flexible workspaces is on the rise in Dubai. According to data from Colliers International, Dubai currently has more than 650,000 sqft of flexible and co-working space spread over 53 locations.
The supply of co-working centres in the city, from both new market entrants and existing operators, will continue to increase with minimum 320,000 to 530,000 sqft of space expected to be dedicated toward this sector by the end of 2020.
Projections for the region forecast that flexible workspaces will constitute more than 60 percent of the total office demand in the GCC by 2025.
“Seamless, hassle-free license and visa processing along with access to premium banking and insurance solutions allows business owners to concentrate on what matters, growing their business,” Ulhaq said, noting that KIKLABB has already partnered with Noor Takaful and Mashreq Bank.
QE2 Shipping LLC is now a wholly-owned subsidiary of the Government of Dubai's Ports, Customs & Free Zone Corporation (PCFC).
Hamza Mustafa, CEO of PCFC Investments told reporters at the opening of the KIKLABB facility: “Today if you want a license you have to actually go to Trakhees’ office in Dragon Market and this is a second venue for us (at QE2).”
Trakhees is the regulatory arm of PCFC in Dubai and the authority responsible for licensing and regulating businesses in special development zones and areas.
“The QE2 has a thousand rooms, we have only opened 241. There is so much more coming. Rather than launching everything at once, we are actually controlling supply and launching it by stages,” Mustafa said.
(Reporting by Gerard Aoun; Editing by Seban Scaria)
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© ZAWYA 2020
