Dubai Digital Park
The Dubai Digital Park has built up an occupancy rate of 80% for its office space. Image Credit: Supplied

Dubai: The free zone entity Dubai Silicon Oasis Authority generated Dh544.7 million in 2020 revenues, an increase of 2.7 per cent over the year before, despite having to tackle the COVID-19 created impact.

In fact, there was a substantial 54 per cent increase in the number of licensed entities signed up last year, with 1,731 new companies. This took the overall number operating from DSOA to 4,936. The value of major projects completed in DSO last year was Dh4 billion.

All of which bodes well for the future, With Dubai Silicon Oasis being included as one of five urban centers within the Dubai 2040 Urban Master Plan, is testament to its status as a proof-of-concept for smart industries of the future, according to Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DSOA.

During the year, the Authority opened its Dh1.5 billion Dubai Digital Park (DDP) project, spanning 150,000 square meters. The cluster currently has an 80 per cent occupancy rates for its office spaces and buildings.

It features 47,000 square meters of office space, 17,000 square meters of retail units, 235 residential apartments and more than 5,000 square meters of plug-and-play offices.