Shaikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Silicon Oasis Authority (DSOA) recently announced that in 2015, the Dubai Silicon Oasis brought in investments that were worth up to Dh3.6 billion.
Ventures completed by Dubai Silicon Oasis Authority involved a large portion of the overall investments while the foreign investments at the hi-tech park added to the other half. Over the past year, DSO has a 16 per cent growth in repeating income.
Some of the major investment projects that are being currently worked and that are expected to commence by the DSOA are (with their cost):
• Silicon Park smart city project (Dh1.3 billion)
• Rochester Institute of Technology Dubai student accommodation (Dh56 million)
• Electricity generating plants (Dh192 million)
• Techno-hub office building (Dh97 million)
• Implementation of light industrial units (Dh46 million)
• Roads improvement project (Dh44 million)
• Lake Park project (Dh30 million)
• Water treatment plant (Dh23.5 million)
In 2015, DSO brought in Dh1.8 billion in foreign investments, these included:
• Fakeeh Academic Medical Centre (Dh1 billion)
• Avenues Mall Silicon Oasis (Dh500 million)
• Axiom Telecom high-tech headquarters (Dh200 million)
• Various other projects that are valued at (Dh165 million)
Shaikh Ahmed said DSO’s record in attracting foreign investment is testament to the services and state-of-the-art facilities it offers to hi-tech companies, investors and entrepreneurs.
Due to DSO’s world class facilities, hi-tech companies, investors and entrepreneurs, the park was able to attract so many foreign investments. From 2014 to 2015, there was massive 38 per cent increase of companies operating out of DSO which has been quiet impactful for the park in terms of its evident success.
UAE is a huge believer on the country being a sustainable knowledge-based economy. DSO is helping the country do so by playing a major role on the growth of the country’s technology sector. The park is dedicated to developing the sector and being viewed as the ideal destination for local and regional technology companies.
Dr. Mohammed Alzarooni, vice-chairman and CEO of DSOA said that in order to help Dubai and the UAE achieve sustainable development, DSO has molded its strategy in order to help support and contribute to the country development. Majority (78 per cent) of the park has companies that specialize in technology as the other remaining 22 per cent are companies that operated in other sectors such as commerce and services.
DSO represents a wide range of companies from many different countries. 32 per cent of the parks companies are European, 24 per cent are Asian, 22 per cent are from the Middle East and North Africa, and 11 per cent are from North and South America.