Dubai: Enterprise software maker SAP is setting up UAE’s first IT-specific education and development institute at the Dubai Silicon Oasis in a bid to boost the burgeoning IT sector and enhance the employment prospects of its graduates in the Middle East and North Africa.
An agreement was signed by Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), and Werner Brandt, chief financial officer and executive board member of SAP.
“Dubai’s strategy is underpinned by technology, which is supported by innovation, research and science as key pillars for the development of a knowledge-based economy. The signing of today’s agreement further enhances Dubai’s 2021 Vision into moving to an economy that is based on the development and creation of UAE’s local Emiratis’ skills,” Shaikh Ahmad said.
The German company is investing Dh1.65 billion over the coming four years to up-skill local talent and drive growth in the Middle East and North Africa region and targets approximately 40 per cent compound annual growth in regional revenue to the end of 2015.
“DSOA’s revenues rose 39 per cent and its net profits skyrocketed 132 per cent in the first six months of this year compared to the same period last year,” Shahla Abdul Razak Bastaki, Deputy CEO of DSOA, told Gulf News.
She said: “Our new incubation centre is doing very well and we are progressing well in terms of technology and sees a strong outlook.”
“This venture will not only benefit SAP but also the entire region and the facility will be developing Arabised software, and the focus has been on bringing this technology to mobile devices as well as cloud computing,” said Sam Al Kharrat, Managing Director, SAP Mena.
The company said that it would recruit 500 new employees across MENA territories, as well as building a training institute to certify 2,000 consultants.
Rise in revenues at Dubai Silicon Oasis in first half this year.
Annual revenue growth target for SAP to end of 2015.