DSOA posts 5.4 percent revenue growth for first half of 2017

Dubai / Emirates Business

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), on Saturday
announced the annual results achieved by DSOA in H1 of this year. The entity registered a 5.4% increase in revenue over the same period in 2016.
His Highness 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.
HH Sheikh Ahmed 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.
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, His Highness 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 sq 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 commenced accepting leasing requests for office space and lifestyle
facilities at Silicon Park.
As part of DSO’s continued efforts to build an integrated city that meets the needs of employees, residents, and visitors within the high-tech park, DSOA, alongside investors, is developing more than 46 projects across 1.1 million square meters. Additionally, 10 developments have been completed in H1, which amount to a total area of 280,000-square meters.
The Light Industrial Units project is one of DSOA’s strategic investments that contributes to enhancing DSO’s position as a preferred destination for international industrial companies, especially in the field of manufacturing and technology assembly.
The 18,000-square meter development is in line with DSOA’s strategy to create an integrated business environment and state-of-the-art technology infrastructure that provides ready solutions to existing and potential customers looking to build their headquarters or expand their business in the region. At the end of the fifth phase that was completed in January 2017, DSOA’s total investment in the project reached approximately AED223mn. The sixth and final phase of the project, set for completion in Q1 2019, has been launched at a total cost of AED110 million.