Sunday, September 17, 2017

Dubai Silicon Oasis H1 revenue up 5.4pc

Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), registered a 5.4 percent increase in revenue in the first half of this year, over the same period in 2016.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chief Executive of Emirates Group and Chairman of DSOA, pointed out that regional and international companies that have chosen Dubai Silicon Oasis as a central hub for their business, continue to expand their operations in the region, leveraging the state-of-the-art infrastructure that DSO offers. He reiterated DSOA’s commitment to continue attracting foreign investment, said a Wam news agency report.

Sheikh Ahmed also reiterated DSOA’s commitment to continue investing in smart initiatives and services which will ensure continuous growth of technology and innovation sectors; and support the sustainable development in Dubai, and the wider UAE.

He 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. Through its services and facilities, DSO addresses these needs in a way that aligns with its vision to develop an advanced technological free zone city that attracts global tech companies to establish research centers and hubs for cutting-edge technology industries.

In H1 2017, 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 percent and community services profits at 18 percent compared to the first six months of 2016.

DSOA currently hosts several leading global corporations. According to latest figures, 36 percent of the companies at the hi-tech park are from the Middle East and Africa region, 25 percent are European, 30 percent Asian, while 7 percent originate from the Americas. 81 percent of these companies operate in the technology sector, while 19 percent span other industries.

In February 2017, Sheikh Ahmed unveiled the commemorative plaque and laid the foundation stone of Silicon Park at DSO – the first project in Dubai to fully implement the smart city concept, spanning 150,000-sq m and set for construction at a cost of Dh1.3 billion ($353.93 million).

For his part, Dr Mohammed Alzarooni, vice chairman and CEO of DSOA, mentioned that the smart city, scheduled for completion by Q1 2019, will include 71,000-sq m of office space, a 25,000-sq m retail expanse, 46,000-sq m of residential area, the 112-key Radisson Red DSO Hotel and 59 furnished apartments, as well as lifestyle facilities such as restaurants, cafes, health centres, gyms, running and cycle tracks, prayer rooms, shopping centre, and underground parking to accommodate over 2,500 cars. DSO has commenced accepting leasing requests for office space and lifestyle facilities at Silicon Park.

Due to the great interest in the project from companies and businesses in the UAE, DSOA has announced that its office space and leisure facilities at Silicon Park, the first integrated smart city under construction at Dubai Silicon Oasis, are ready for lease.

Dr Alzarooni said: "Silicon Park is an integrated smart city created to articulate the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into the smartest and happiest city in the world."

He noted that DSOA has allocated Dh100 million to provide an advanced technological infrastructure at Silicon Park and to implement smart services in line with Dubai’s smart city initiatives.

He said: "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."

Dr Alzarooni pointed out that the massive transformations in the global economic landscape have triggered an urgent need to adopt innovation in all areas of work and production. DSO acts as an optimal environment and vital business hub in attracting foreign direct investments to Dubai and the UAE. The number of companies operating within DSO reached 2,100 at the end of H1 2017.

As a smart community, Silicon Park will feature intelligent solutions from charging docks for smart devices on the streets to smart pop-up furniture and digital play tables, as well as optimally designed bus shelters, piazza shading, and other public amenities.

Furthermore, its residential units will boast remote-controlled systems that can regulate lighting, air conditioning, and electrical appliances in addition to controlling the movement of windows and curtains. Upon completion, the project will offer a range of office spaces and business facilities including meeting rooms and a multi-purpose conference center.

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