Dubai Silicon Oasis plans $871m projects, sees 15% revenues hike

The total amount of foreign investment Dubai Silicon Oasis Technology free zone has accumulated until the present is AED1.9 billion. The free zone has already planned projects that amount to AED1.4 billion. Therefore, the total amount of investment amounts to AED3.288 billion.

Furthermore, Dubai Silicon Oasis Authority (DSOA) has confirmed that the free zone has performed effectively across all areas of activity and operation in regards to the first six months of 2015. 

According to the technology-based free zone, it accumulated AED245.4 million in profits during the first six months of 2015, marking a 16% increase in comparison to the first six months of 2014.

The free zone also generated a net profit of AED93.8 million and a 14.6% increase regarding recurring profits when compared to the first six months of 2014.

The free zone is currently home to 1,187 companies, marking an increase of 12% in relation to the previous year. Out of the 1,187 companies, 71% engage in IT whereas the remaining companies engage in various other sectors such as services and commerce.

In the meantime, Dubai Silicon Oasis (DS0) is planning to introduce investment projects amounting to AED1.423 billion. Some of the projects include Silicon Park (AED.2 billion), Technohub (AED97 million), the Rochester Institute of Technology Dubai dorms (AED56 million), the light industrial units (AED42 million) and roads improvements (AED28 million).

Furthermore, the DSO has already created its 2021 growth, whereby blueprints indicate that the free zone’s future expansion will shape its course in the long run. The expansion plans are based on  the emirate’s vision and plans to develop into an innovative and smart city that enhances creativity, innovation and backs young technological individuals that make their ideas and visions reality.

Currently, the free zone has already attracted AED1.865 billion in foreign investment of which 30% is from Europe, 37% is from the Middle East and North Africa, 21% is from Asia, 11% is from the USA and slightly less than 1% is from Australia and New Zealand.

The DSO’s records in attracting foreign investment mirror the top-notch facilities and services it caters to hi-tech entrepreneurs, investors as well as companies. Likewise, the increase in the number of companies operating business activities out of the DSO, 12% increase in contrast to the previous year, further mirrors the parks success.