BUSINESS

DSOA revenue grows 5.4% in first half 2017

September 16, 2017
DSOA logo
DSOA logo

DUBAI — Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has announced the annual results achieved by DSOA in H1 2017. The entity registered a 5.4 percent increase in revenue over the same period in 2016.

Sheikh Ahmed pointed out that regional and international companies that have chosen Dubai Silicon Oasis as a central hub for their business continue to expand their operations in the region, leveraging the state-of-the-art infrastructure that DSO offers. He reiterated DSOA’s commitment to continue attracting foreign investment.

He also reiterated DSOA’s commitment to continue investing in smart initiatives and services which will ensure continuous growth of technology and innovation sectors; and support the sustainable development in Dubai, and the wider UAE.

Ahmed highlighted DSO’s ability to continue its growth and make profits is a result of its keen interest in studying the markets and understanding recent trends and needs emerging from the changing tech landscape. Through its services and facilities, DSO addresses these needs in a way that aligns with its vision to develop an advanced technological free zone city that attracts global tech companies to establish research centers and hubs for cutting-edge technology industries.

In H1 2017, DSOA registered a 23 percent increase in the number of rented spaces in its Data Center while reporting hikes in service fee profits at 28 percent and community services profits at 18 percent compared to the first six months of 2016.

DSOA currently hosts several leading global corporations. According to latest figures, 36 percent of the companies at the hi-tech park are from the Middle East and Africa region, 25 percent are European, 30 percent are Asian, while 7 percent originate from the Americas. 81 percent of these companies operate in the technology sector, while 19 percent span other industries.

In February 2017, Sheikh Ahmed bin Saeed Al Maktoum unveiled the commemorative plaque and laid the foundation stone of Silicon Park at DSO – the first project in Dubai to fully implement the smart city concept, spanning 150,000-square meters and set for construction at a cost of AED1.3 billion.

For his part, Dr Mohammed Alzarooni, Vice Chairman and CEO of DSOA, mentioned that the smart city, scheduled for completion by Q1 2019, will include 71,000-square meters of office space, a 25,000-square meter retail expanse, 46,000-square meters of residential area, the 112-key Radisson Red DSO Hotel and 59 furnished apartments, as well as lifestyle facilities such as restaurants, cafés, health centers, gyms, running and cycle tracks, prayer rooms, shopping center, and underground parking to accommodate over 2,500 cars. DSO has commenced accepting leasing requests for office space and lifestyle facilities at Silicon Park.

Due to the great interest in the project from companies and businesses in the UAE, DSOA has announced that its office space and leisure facilities at Silicon Park, the first integrated smart city under construction at Dubai Silicon Oasis, are ready for lease.

Dr Alzarooni said: “Silicon Park is an integrated smart city created to articulate the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into the smartest and happiest city in the world.”

He noted that DSOA has allocated AED100 million to provide an advanced technological infrastructure at Silicon Park and to implement smart services in line with Dubai’s smart city initiatives.

He said: “In line with the UAE Vision 2021, the project achieves several of the key performance indicators of the UAE National Agenda, including cohesive community, safe society, and sustainable environment, and aligns with the latest global trends for smart cities. Silicon Park has already garnered much interest from international companies keen to participate in the UAE’s march to sustainability. Once complete, it will provide a superior standard of living for residents, professionals, and visitors."


September 16, 2017
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