Investments in Dubai Silicon Oasis reach AED3.6 billion

Dubai / WAM

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, on Saturday announced that total investments in Dubai Silicon Oasis amounted to AED3.6 billion in 2015.
Projects carried out by the DSOA accounted for half of all investments, while foreign investments at the hi-tech park contributed to the remaining half.
Sheikh Ahmed bin Saeed, who is also Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, commended DSO for its strong performance that registered a 16% growth in recurring revenue over the previous year.
Commenting on DSOA ‘s investments, H.H. Sheikh Ahmed, said, “The investment projects that DSOA is currently working on include the AED1.3 billion smart city project Silicon Park, as well as the AED56 million student accommodation for the Rochester Institute of Technology Dubai. Other key projects that are underway include the fifth phase of implementation of light industrial units costing AED46 million, the AED23.5 million water treatment plant, two electricity generating plants valued at AED192 million, the AED30 million Lake Park project, the AED44 million roads improvement project and Techno-hub – an office building dedicated to technology companies valued at AED97 million.”
DSO also attracted AED1.8 billion in foreign investment in 2015. This included the AED1 billion Fakeeh Academic Medical Centre, the AED500 million Avenues Mall Silicon Oasis, the AED200 million Axiom Telecom high-tech headquarters as well as several other projects
totalling AED165 million.
Sheikh Ahmed said that DSO ‘s outstanding record in attracting foreign investment is testament to the exceptional services and state-of-the-art facilities it offers to hi-tech companies, investors and entrepreneurs. The increase in the number of companies operating out of DSO – up from 1391 in 2014 to 1920 in 2015 marking a 38 percent surge – is further evidence of the park’s success.
He pointed out that the results reflect the growth in the UAE’s technology sector, which is a crucial enabler in the country’s diversification efforts as it transitions into a sustainable knowledge-based economy. DSO is committed to developing this vital sector and emerging as the preferred destination for technology companies locally and regionally by providing best-in-class services, facilities and infrastructure.
Sheikh Ahmed added, ” DSO has developed its 2021 growth strategy that serves as a blueprint for expansion and shapes the tech-park’s development trajectory. This strategy is in line with Dubai’s vision to evolve as a smart city that encourages innovation and creativity, supports young technological talent and transforms their ideas into successful tech-businesses.”
For his part, Dr Mohammed Alzarooni, Vice Chairman and CEO of DSOA , highlighted the success stories achieved in 2015 through attracting technology-focused organizations. Elaborating on the projects underway at DSO , Dr Al Zarooni said the tech park follows a strategy that aims to support and contribute to the overall direction of Dubai and the UAE in achieving sustainable development.
He noted that nearly 78 percent of the companies operating at DSO specialize in Technology, while the remaining 22 percent operate across a range of sectors including commerce and services. The current breakdown of organizations by country represented at DSO is as follows: 32 percent of the companies are European, 24 percent are Asian, 22 percent are from the Middle East and North Africa (MENA) region, 11 percent are from North and South America, while just above one percent originate from
Australia and New Zealand.