Dubai Silicon Oasis Authority Registers 11.2% Revenue Growth To Notch Up AED590.5 Million In 2017

40% completion rate of Silicon Park, the first integrated smart city in Dubai

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO) today announced that the integrated free zone technology park has achieved remarkable results in 2017 with a total revenue of AED590.5 million and growth of 11.2% compared to the previous year. Overall profits reached AED205.7 million, a surge of 9.5% compared to 2016. The entity also witnessed an increase of 16% in business partners, with a total of 2,459 companies currently operating within the high-tech park.

His Highness said the results reflect the continued growth of the technology sector. He further stressed that Dubai Silicon Oasis Authority is keen to implement innovative and smart initiatives and projects that contribute to sustainable development while supporting the emirate's economy, which is steadily moving towards a future based on diversity, progress and knowledge rather than the conventional dependence on oil.

His Highness added that Dubai Silicon Oasis has become one of the most important free zones in the region attracting international and regional technology companies to establish their business and augment their expansion and operations in the region. He said such growth is facilitated by the modern infrastructure provided by DSO, backed by Dubai's advanced network of airports, ports, roads, as well as specialized free zones and a legislative environment that draws continued foreign direct investment.

Achievements

Dr Mohammed Al Zarooni, Vice Chairman and CEO of DSOA, said that DSO’s continued success in growing and delivering profits lies in its ability to offer services and facilities that meet the needs of business partners in line with its vision of developing a high-tech city that attracts global technology companies.

Dr Al Zarooni further noted that Dubai Silicon Oasis is attracting a steady influx of technology companies. This is evidenced in the number of companies based in DSO rising from 2,120 in 2016 to 2,459 in 2017, marking an increase of 339 companies.

Among the companies based in Dubai Silicon Oasis, 37% are from the Middle East and Africa, 23% are from Europe, 33% are from Asia, and 7% are American. 82% of these companies are specialized in technology while 18% focus on commercial services and other service sectors.

During 2016, revenues from the leased land area increased by 33.5%, while revenues from services fees increased by 21.8% compared to 2016.

Silicon Park and Smart Services

In February 2017, His Highness Sheikh Ahmed bin Saeed Al Maktoum unveiled the memorial plaque for Silicon Park and laid the foundation stone for the project that will emerge as the first integrated smart city in Dubai. At a cost of AED1.3 billion, the project spans an area of 150,000 square meters and is expected to be completed in the first quarter of 2019.

Dr Al Zarooni pointed out that the project, which has achieved 40% completion, will comprise 71,000 square meters of office space, 25,000 square meters of commercial space, 46,000 square meters of residential area, and the 112-key and 59 furnished apartment complex Radisson RED Dubai Silicon Oasis. In addition, it will feature contemporary lifestyle facilities, such as restaurants, cafés, prayer rooms, a shopping center, and an underground car park that can accommodate more than 2,500 vehicles.

Designed to offer an efficient, seamless, safe, and impactful city experience for residents and visitors to DSO, the project will incorporate 60 smart services worth AED100 million, leveraging sustainable and energy-efficient technologies in compliance with LEED (Leadership in Energy and Environmental Design) standards, including solar photovoltaic panels covering 34% of the roof area. The smart practices at DSO aim to increase security and privacy for the residents and guests in the community. Based on that, DSO has introduced a series of services, which measure the noise and water levels, and air quality. This is in addition to the tracking system that identifies the location of children and minors and ensures the safety of children. Similarly, the entity has implemented the ‘Child Online Protection’ initiative that was established by the International Telecommunication Union (ITU) to protect children worldwide against cyber threats.

In line with its strategy to build a smart, integrated city, Silicon Park will include smart street solutions and smart building technology that will enable the efficient and sustainable consumption of energy, conserve the environment, and reduce operational costs.

Smart Education and Knowledge Economy

In May 2017, Dubai Silicon Oasis Authority (DSOA) graduated the first cohort of students from the Masters of City Science program at the Rochester Institute of Technology - Dubai. Accredited by the Commission for Academic Accreditation at the Ministry of Education, the program is the first of its kind in the MENA region and is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance Dubai’s position as the smartest and happiest city in the world.

In addition, DSOA, in cooperation with RIT Dubai, launched the Corporate Happiness Professional Diploma, the first of its kind in the Middle East aimed at enhancing the happiness of employees, customers, residents and visitors of the UAE.

Commenting on the program, His Highness Sheikh Ahmed bin Saeed Al Maktoum said: "The curriculum aims to achieve the objectives of the UAE’s happiness agenda, where students are taught the basic concepts of happiness and refine their skills in applying these concepts in the workplace. The program explores ways and mechanisms that enhance the happiness of employees and customers in the private and public sectors.”

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