Dubai: Dubai Silicon Oasis Authority’s (DSOA) net profit touched Dh204.3 million in 2013, a 23.5 per cent increase in comparison with 2012, the DSOA announced on Tuesday.
The Authority attributed this growth to the outstanding performance across all areas of operations across DSOA.
“We are very proud of the sustainable growth achieved at Dubai Silicon Oasis and look forward to continue setting new milestones in the future,” Shaikh Ahmad Bin Saeed Al Maktoum, chairman of DSOA, said.
“We have already commenced our path of transforming DSO into an integrated smart city in line with the directives of Dubai Government to make Dubai the smartest city in the world in the next three years. We are committed to making all future projects in DSO provide services and facilities that are consistent with the smart city concept. We have allocated an investment of Dh2.4 billion to complete a number of projects by the end of 2017.”
Last year also saw the number of companies operating under the Dubai Silicon Oasis Authority growing to 929, with 65 per cent in the IT industry and 35 per cent in the commercial and diversified service sectors.
The breakdown of organisations by country in the DSO is as follows: 35 per cent of companies are European, Asian enterprises comprise 19 per cent and American firms account for six per cent. Canadian organisations cover one per cent of businesses at DSO, with one per cent representing Australia and 38 per cent comprising enterprises from the Mena region. The mix highlights the free zone’s international make-up.
Dr Mohammad Al Zarouni, vice chairman and CEO of Dubai Silicon Oasis Authority, said: “Investment projects launched by DSOA include the Silicon Park project, which will be the first integrated smart city in Dubai. The project will span an area of 150,000 sq metres and developed at a cost of Dh1.1 million. Work on the project is already under way and will be completed by end 2017.
“Silicon Park will emerge as an intelligent complex embedded with cutting-edge technologies that fulfil the requirements of modern businesses and lifestyles. Adopting these advanced technologies complement the Dubai Government’s focus on providing smart life, smart transport, smart community, smart economy, governance and smart environment to its people and visitors. Upon completion of the Silicon Park project, DSO will be the first free zone to build an integrated smart project,” he added.
Wholly owned by the Government of Dubai, DSO operates as a free zone for companies producing semiconductors, microelectronics, and other high-tech products seeking to establish regional headquarters and centres of research and development in the Middle East and Africa.
