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28 March 2024

Dubai Silicon Oasis profit up 23%

The number of companies operating under Dubai Silicon Oasis Authority rose to 929 in 2013 (SUPPLIED)

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By Staff

Dubai Silicon Oasis Authority (DSOA) on Tuesday said it registered Dh204.3 million net profit during 2013, witnessing an increase of 23.5% in comparison with 2012, driven by outstanding performance across all areas of operations.

Sheikh Ahmed bin Saeed Al Maktoum, 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. We have allocated an investment of Dh2.4 billion to complete a number of projects by end of 2017.”

Dr Mohammad Alzarooni, Vice Chairman and CEO of Dubai Silicon Oasis Authority, 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 metres and developed at a cost of Dh1.1 million. Work on the project is already underway and will be completed by end 2017.

“Silicon Park 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.”

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.

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.

2013 also saw companies operating under the Dubai Silicon Oasis Authority 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 in DSO is represented 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.

Dh1 billion ‘The University Hospital’ project

DSO announced also plans to host a hospital and medical university project developed by Saudi Arabia’s premier healthcare concept, Dr. Soliman Fakeeh Hospital (DSFH), in an effort to contribute to academic advancement and extend quality medical services to support the local healthcare industry.

Estimated to be built at a cost of Dh1 billion across 150,000 square meters, the project titled ‘The University Hospital’ will be constructed in two phases. The hospital is expected to be completed by mid-2017, and will be followed by the medical college in 2019.

Offering over three decades of expertise in healthcare and hospital management, the DSO- based hospital will offer 4,000 new jobs while delivering world-class medical services with the new 300-bed teaching hospital.

The University Hospital will focus on family healthcare and patient-centred services, targeting the growing community of residents in DSO as well as neighbouring areas. Equipped to offer secondary and tertiary medical services supported by comprehensive diagnostic centres, the hospital will primarily focus on family and patient-centered services, catering to 700,000 patients per year, with an estimated 40,000 admissions and 20,000 surgical operations.

The proposed hospital will also function as a full-service medical institution, provisioned with centres of excellence in medical and surgical sub-specialties, mother and child health, cardiology and spine surgery, plastic and cosmetic laser surgery, as well as obesity management.

Light Industrial Units

In line with its strategy to create an advanced hi-tech eco system, DSO has completed Phase III of its Light Industrial Units (LIU), with 100 per cent of the units rented. The Light Industrial Units include 22 flexible, modular and finished units that span over approximately 365 sq metres. Each unit houses ground and first floor offices spreading over 150 sq. metres, while the warehouse on the ground floor covers almost 210 sq metres.

Phase-four of the Light Industrial Units is also underway with completion scheduled in Q4 2014. Phase-four of the Light Industrial Units will include 27 full-facilities, flexible, modular and finished units.

Silicon Oasis Founders (SOF), a business incubation centre wholly owned by Dubai Silicon Oasis Authority (DSOA), has achieved great milestones over the past year. SOF currently incubates four start-ups that possess high potential for success with an additional five start-ups expected to join in the coming months.

Over 200 entrepreneurs have received support from SOF since its inception in the form of financial backing as well as workspace facilities to help them launch their businesses.

SOF has been set up with a strategic commercial ambition and long-term vision to position itself as a leading incubator that supports high potential ventures in the seed phase. 

Residential projects

On the residential front, DSO has launched last year Phase-3 of its Cedre Villas project. The Dh285 million extension to the Cedre Villas will add 160 luxury villas, taking the total count to 1,207. Phase-3 will be delivered in three stages during April, July and September 2014.

Featuring modern architectural designs, each villa in the latest phase of development will offer a total built-up area of 3,800 square feet. The ground level of the villas will include a living room, study, dining room, kitchen, breakfast area, and a maid’s room. The upper floor will house three en-suite bedrooms and a family room. In addition, every villa will offer three parking spots, as well as expansive front and back yards.

The new phase of residential construction will also boast two new parks over an area of 31,068 square metres and 30,392 square metres. Serving the entire community in DSO, these parks will feature a children’s playground, Park Plaza, jogging/cycling tracks, water pond, security building, swimming pool, utility areas, open air theatre and prayer areas.

DSO has also completed its Dh395 million two towers project. Featuring modern architectural designs with expansive landscaped areas and pedestrian walkways, the two towers comprise 25 floors each, three of which are dedicated to car parking. A total of 296 one and two bedroom apartments span the first 19 levels of each tower while the top five levels include three bedroom apartments. The first level in each tower block offers self-contained club houses, swimming pools, and recreational facilities.

DSO has also signed an agreement with Emirates airlines in 2013 for the development of five residential towers spanning an area of 21,500 sq meters within Dubai Silicon Oasis.