DSOA records 5.4% revenue growth
Dubai Silicon Oasis Authority registered a 23% increase in number of rented spaces
Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), yesterday announced a 5.4 per cent increase in revenue in the first half.
During that time, DSOA registered a 23 per cent increase in the number of rented spaces in its Data Center, while reporting hikes in service fee profits at 28 per cent and community services profits at 18 per cent compared to the first six months of 2016.
Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), highlighted DSO’s ability to continue its growth and make profits is a result of its keen interest in studying the markets and understanding recent trends and needs emerging from the changing tech landscape.
DSOA currently hosts several leading global corporations. According to latest figures, 36 per cent of the companies at the hi-tech park are from the Middle East and Africa region, 25 per cent are European, 30 per cent are Asian, while 7 per cent originate from the Americas. 81 per cent of these companies operate in the technology sector, while 19 per cent span other industries. The number of companies operating within DSO reached 2,100 at the end of the first half of 2017.
Mohammad Al Zarouni, Vice-Chairman and CEO of DSOA, said DSOA has allocated Dh100 million to provide an advanced technological infrastructure at Silicon Park, the first project in Dubai to fully implement the smart city concept and to implement smart services in line with Dubai’s smart city initiatives.
“In line with the UAE Vision 2021, the project achieves several of the key performance indicators of the UAE National Agenda, including cohesive community, safe society, and sustainable environment, and aligns with the latest global trends for smart cities. Silicon Park has already garnered much interest from international companies keen to participate in the UAE’s march to sustainability. Once complete, it will provide a superior standard of living for residents, professionals, and visitors.”
He added: “DSO’s success in presenting a comprehensive smart city model has enabled it to set benchmarks in developing smart services in the country and the wider region. DSO continues to offer innovative services and solutions that attract experts and ideas from start-ups and large corporations across diverse sectors within and outside the UAE.”
At the end of the fifth phase that was completed in January, DSOA’s total investment in the project reached approximately Dh223 million. The sixth and final phase of the project, set for completion in the first quarter of 2019, has been launched at a total cost of Dh110 million.