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131% rise in profits for Dubai Silicon Oasis
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), on Saturday announced that the high-tech park recorded a 131 per cent growth in profits for the first half of this year against the same period last year.
Dubai Silicon Oasis (DSO) registered a 148 per cent increase in revenue while the total number of companies operating at the high-tech park for the microelectronics and the semiconductor industry rose by 25 per cent to total 318 for the same period.
Sheikh Ahmed noted that the results achieved for the first quarter of 2010 confirms DSO's strong investment fundamentals and its growth opportunities.
He also commended the Dubai Circuit Design Centre headquartered at Dubai Silicon Oasis for winning six new projects in collaboration with leading technology companies to design circuits for semi-conductor chips of TSMC 40 nanometers.
Dr Mohammed Al Zarooni, Vice-Chairman and CEO of Dubai Silicon Oasis Authority, said: "Since the global financial crisis unfolded, Dubai Silicon Oasis has devised a flexible strategy to tackle future challenges and enable smooth operations while maintaining its annual growth rate. The excellent first quarter performance bears testimony to the effectiveness of our meticulous policy.
"In addition, DSO has attracted global technology firms by providing additional services and facilities and creating an ideal environment for start-up businesses. Our client portfolio currently comprises 66 percent technology companies, ranging from IT and electronics to telecommunications, semiconductor and energy companies. Engineering and the retail sector represent 4 per cent each of the total number of companies at DSO, while 26 per cent encompass diverse businesses."
Region-wise breakup of companies at DSO indicates 45 per cent Europe-based, 11 per cent American, and 18 per cent Asian. Companies from the Middle East and North Africa region constitute 26 per cent of the total entities operating at the high-tech park.
In addition to an impressive performance for the first half of the year, DSO also welcomed renowned global and regional brands to its premises, including the US-based Invensense, leading providers of micro electromechanical system-based (MEMS) motion processing products for consumer electronics.
It will also host a team of software engineers to develop product applications as well as a dedicated group of professionals to work on the design and development of new MEMS products.