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Dubai Silicon Oasis net profit up 23pc

Dubai, March 18, 2014

Dubai Silicon Oasis Authority (DSOA) has registered a net profit of Dh204.3 million ($55.6 million) in 2013, up 23.5 per cent when compared to the previous year, driven by outstanding performance across all areas of operations.

Commenting on the performance, Sheikh Ahmed bin Saeed Al Maktoum, the chairman of DSOA, said: "We are very proud of the sustainable growth achieved at Dubai Silicon Oasis and look forward to continue setting new milestones in the future."

"We have already commenced our path of transforming DSO into an integrated smart city, in line with 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," he stated.

Sheikh Ahmed said funds worth Dh2.4 billion have been allocated to complete a number of projects by the end of 2017.

Dr Mohammad Alzarooni, the DSOA vice chairman and CEO 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 m and developed at a cost of Dh1.1 million. Work on the project is already underway and will be completed by end 2017," he noted.

Silicon Park, he stated, 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.

He pointed out that Silicon Park will offer smart solutions in energy, operations, living, transport, business, entertainment, lighting, and signage.

"The project also includes smart charging stations, smart bus stations, smart applications, robotic technologies, renewable energy usage, energy efficiency measures and sustainable green building standards," he explained.

Silicon Park will serve as a model for future smart cities. It also underlines Dubai readiness to adopt innovative technology and presents a realistic concept of what connected living will look like in the future.

Dr Alzarooni said 2013 also saw companies operating under the DSOA growing to 929 with 65 per cent in the IT industry and the remaining 35 per cent in the commercial and diversified service sectors.

The current breakdown of organisation by country represented is as follows: 35 per cent of the companies are European, while Asian enterprises comprise 19 per cent and American firms account for six per cent.

Canadian organisations cover one per cent of the 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.-TradeArabia News Service




Tags: profit | growth | Dubai Silicon Oasis |

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