Sheikh Ahmed Bin Saeed Al Maktoum divulges details of AED3.2 billion worth of Investment Projects at Dubai Silicon Oasis

DUBAI, 4th November, 2015 (WAM) — H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, DSOA, today announced that Dubai Silicon Oasis Authority is currently implementing investment projects with a cost of AED1.423 billion.

The hi-tech free zone has also attracted foreign investments worth AED1.865 billion, thus bringing total investments in Dubai Silicon Oasis to AED3.288 Billion Commenting on DSO’s investments, H.H. Sheikh Ahmed, said, “The investment projects that DSO is currently working on include the AED1.2 billion smart city project, Silicon Park, as well as Technohub, the AED97 million office building dedicated for technology entrepreneurs, the AED56 million dorms building for the Rochester Institute of Technology Dubai, the fifth phase of light industrial units costing AED42 million, and the AED28 million roads improvement project.”

The AED1.865 billion foreign investment capital include the AED1 billion Fakeeh Academic Medical Centre, the AED500 million shopping centre, the AED200 million Axiom building, the AED110 million manufacturing facility for Chang Zhou Almaden, one of the world’s largest producers of photovoltaic anti-reflective coated glass, and the AED55 million regional headquarters for SIG Combibloc Obeikan, a leading system supplier of aseptic carton packaging and filling lines.

H.H. Sheikh Ahmed Bin Saeed also revealed the DSOA’s positive results recorded across all areas of operations in the first half of 2015, registering AED245.4 million in revenue by mid-2015, representing a 16 percent increase compared with the same period last year. DSOA also earned AED93.8 million in net profit while achieving a 14.6 percent growth in recurring revenues compared to H1 2014.

DSO’s outstanding record in attracting foreign investment is testament to the exceptional services and state-of-the-art facilities it offers to hi-tech companies, investors and entrepreneurs. The increase in the number of companies operating out of DSO, from 1,064 in 2014 to 1,187 in the first half of 2015, marking an increase of 12 percent, is further evidence of the park’s success.

Nearly 71 percent of the companies operating at DSO specialize in IT, while the remaining 29 percent operate across a range of sectors including commerce and services. The current breakdown of organisations by country represented at DSO is 37 percent from the Middle East and North Africa region, 30 percent European, 21 percent Asian, 11 percent from the Americas, and just under one percent from Australia and New Zealand.

Sheikh Ahmed added, “DSO has developed its 2021 growth that lays out a blueprint for expansion that will help shape DSO’s future trajectory. The strategy is in line with the emirate’s vision of becoming a smart and innovative city that encourages innovation and creativity, and supports young technological talent to convert their ideas into successful tech-businesses.”

Dr. Mohammed Alzarooni, Vice Chairman and CEO of DSOA, highlighted the success stories achieved during the first half of 2015 through the support of start-ups at the park, as well as the prominent agreements signed with local and international companies.