Investment projects at DSO worth Dh3.6bn: Ahmed bin Saeed
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, on Saturday announced that total investments in Dubai Silicon Oasis amounted to Dh3.6 billion in 2015.
Projects carried out by the DSOA accounted for half of all investments, while foreign investments at the hi-tech park contributed to the remaining half.
Sheikh Ahmed bin Saeed, who is also Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, commended DSO for its strong performance that registered a 16 per cent growth in recurring revenue over the previous year.
Sheikh Ahmed, said, "The investment projects that DSOA is currently working on include the Dh1.3bn smart city project Silicon Park, as well as the Dh56 million student accommodation for the Rochester Institute of Technology Dubai. Other key projects that are underway include the fifth phase of implementation of light industrial units costing Dh46m, the Dh23.5m water treatment plant, two electricity generating plants valued at Dh192m, the Dh30m Lake Park project, the Dh44m roads improvement project and Techno-hub - an office building dedicated to technology companies valued at Dh97m.”
DSO also attracted Dh1.8bn in foreign investment in 2015. This included the Dh1bn Fakeeh Academic Medical Centre, the Dh500m Avenues Mall Silicon Oasis, the Dh200m Axiom Telecom high-tech headquarters as well as several other projects totalling Dh165m.
He said that DSO 's outstanding record in attracting foreign investment is testament to the exceptional services and state-of-the-art facilities it offers to hi-tech companies, investors and entrepreneurs. The increase in the number of companies operating out of DSO - up from 1391 in 2014 to 1920 in 2015 marking a 38 percent surge - is further evidence of the park's success.
He pointed out that the results reflect the growth in the UAE's technology sector, which is a crucial enabler in the country's diversification efforts as it transitions into a sustainable knowledge-based economy. DSO is committed to developing this vital sector and emerging as the preferred destination for technology companies locally and regionally by providing best-in-class services, facilities and infrastructure.
Dr Mohammed Alzarooni, Vice Chairman and CEO of DSOA, highlighted the success stories achieved in 2015 through attracting technology-focused organizations. Elaborating on the projects underway at DSO, Dr Al Zarooni said the tech park follows a strategy that aims to support and contribute to the overall direction of Dubai and the UAE in achieving sustainable development.
He noted that nearly 78 per cent of the companies operating at DSO specialize in Technology, while the remaining 22 per cent operate across a range of sectors including commerce and services. The current breakdown of organizations by country represented at DSO is as follows: 32 per cent of the companies are European, 24 per cent are Asian, 22 percent are from the Middle East and North Africa (Mena) region, 11 per cent are from North and South America, while just above one percent originate from Australia and New Zealand.
DSOA launched Silicon Park, the first integrated smart city project to be built at the integrated park at a cost of Dh1.3 billion. Spanning an area of 150,000 square metres, the project is scheduled for completion by Q1 2018 and will integrate best international standards to offer a modern lifestyle for residents, workers and visitors.
The project will comprise 71,000 square meters of office space, 25,000 square meters of commercial space, and 46,000 square meters of residential space. It will also feature a hotel, community facilities like malls, shops, restaurants, and a multi-purpose conference centre.
DSO also signed an agreement with the Rezidor Group, member of the Carlson Rezidor Hotel Group to introduce the lifestyle select brand Radisson RED to Dubai. The Radisson Red Dubai Silicon Oasis is expected to open in Q3 2018.
Dr Mohammed Alzarooni said: "We are confident that Silicon Park's smart solutions combined with the strategic location of Dubai Silicon Oasis, will allow the hotel to offer its customers a unique experience within an integrated community that allows people to work, live and play. We look forward to working closely with Rezidor to ensure the hotel brand and experience are comprehensively articulated in the new property."
Two New Power Substations
To keep pace with the growth of DSO -based companies, residences and future projects, DSOA allocated Dh192 million to build two new power substations in collaboration with Dewa with a capacity of 400 megawatts. The stations will be built in two phases over 2017 and 2018.
Roads Improvement Project
DSOA launched a roads expansion project in coordination with the Roads and Transport Authority in Dubai ( RTA ) with the aim of expanding its existing roads infrastructure at an estimated cost of Dh16m. DSOA also previously completed an Dh28m project that added 2.7 kilometres of roads to the integrated hi-tech park.
DSO also launched the Lake Park project on an area of 81,715 square meters, at a cost of Dh30m. Once complete, the park will include retail outlets, kiosks, designated play areas for children, football pitch, and a variety of amenities for the convenience of residents.
DSO commenced construction works for student accommodation for the Rochester Institute of Technology Dubai. Spanning an area of 10,000 square meters and costing Dh56 million, the project comprises a four-storey building with 156 residential flats and will be completed in April 2016.
Augmentation of Water Treatment Plant
DSO gives special attention to the environment in line with its CSR strategy that is based on three main pillars: community, environment and human resources. DSO implemented the region's first water saving subsurface irrigation system. The initiative, launched in collaboration with Rain Bird, the leading manufacturer and provider of irrigation products and services, aims to reduce the current irrigation water consumption levels and related operational costs at DSO by almost 40 per cent.
DSO is also working on increasing the capacity of its water treatment plant from 10,000 cubic meters to 15,000 cubic meters daily. This project will increase the amount of recycled water to meet rising demands for green area irrigation. It will also ensure better use of water resources and help decrease the amount of pollutants affecting the environment.
Fakeeh Academic Medical Centre
In line with Dubai's plan to attract as many as 500,000 medical tourists a year, construction works have commenced on the Fakeeh Academic Medical Centre (FAMC). The centre is a state-of-the-art smart hospital and medical university project being developed by Saudi Arabia's premier healthcare provider, Dr Soliman Fakeeh Hospital (DSFH).
Estimated to cost AED1 billion and set to spread over 150,000 square meters at the integrated free zone park, the Fakeeh Academic Medical Centre will be constructed in two phases. Phase 1 of the project is set for completion in 2017 and will include the delivery of a 150-bed state-of-the-art smart hospital. Phase 2 of the project, which will be completed in 2019, is set to increase the capacity of the hospital by an additional 150 beds. This second phase will also incorporate an academic component within the project through the opening of a research-focused medical university. The hospital will also include five centres of excellence specializing in diabetes and endocrinology, muscles, bones and joints, emergency medicine, pulmonary medicine and cardiology.
DSO is also set to host Axiom telecom's new Dh200 million hi-tech headquarters. Currently under construction, the building equipped with the latest technology will offer an innovative campus-style facility that serves as a base for all major company operations.
Located over an area of 420,000 square feet, the new Axiom telecom facility - designed by the acclaimed Italian architects Marco Mangili Associati - will recreate the creative ambience of leading tech companies.
Avenues Mall Silicon Oasis
DSO signed an agreement with a leading retail group to build Avenues Mall Silicon Oasis. The Dh500 million project spanning over one million square feet will be completed in 2018.
New System with 350 Digital Services
DSO completed automating more than 350 services through the application of the Microsoft Dynamics system. Offering electronic services via a designated customer portal, the new system will service DSO 's 1,920 clients and 55,000 residents. In less than three months, the new website registered 11,000 new service requests - an indication of its success and the satisfaction of the clients with its services.
77 per cent Customer Satisfaction
DSO achieved positive results in customer satisfaction, registering 77 per cent overall satisfaction rates in the 2015 customer satisfaction survey. Dr Alzarooni said these results reflect the efforts of all DSO staff to meet and exceed customer expectations.
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