Dubai: Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), today announced that total investments in Dubai Silicon Oasis amounted to Dh3.6 billion in 2015. Projects carried out by Dubai Silicon Oasis Authority comprised half of all investments, while foreign investments at the hi-tech park contributed to the remaining half. His Highness Sheikh Ahmed commended DSO for its strong performance that registered a 16 per cent growth in recurring revenue over the previous year.
“The investment projects that DSOA is currently working on include the Dh1.3 billion smart city project Silicon Park, as well as the Dh56 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 Dh46 million, the Dh23.5 million water treatment plant, two electricity generating plants valued at Dh192 million, the Dh30 million Lake Park project, the Dh44 million roads improvement project and Techno-hub — an office building dedicated to technology companies valued at Dh97 million,” Shaikh Ahmad said.
DSO also attracted Dh1.8 billion in foreign investment in 2015. This included the Dh1 billion Fakeeh Academic Medical Centre, the Dh500 million Avenues Mall Silicon Oasis, the Dh200 million Axiom Telecom high-tech headquarters as well as several other projects totalling Dh165 million.
The increase in the number of companies operating out of DSO — up from 1391 in 2014 to 1920 in 2015 — marks a 38 per cent increase.
Shaikh Ahmad 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 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,” he said.
78 per cent of the companies operating at DSO specialise in Technology, while the remaining 22 per cent operate across a range of sectors including commerce and services. The current breakdown of organisations by country represented at DSO is as follows: 32 per cent of the companies are European, 24 per cent are Asian, 22 per cent are from the Middle East and North Africa (MENA) region, 11 per cent are from North and South America, while just above one per cent originate from Australia and New Zealand.
