Dubai Silicon Oasis maps $980m investments in 2015by Paromita Dey on Mar 27, 2016
Total investments in Dubai Silicon Oasis (DSO) amounted to $980m (AED3.6bn) in 2015, H H Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Silicon Oasis Authority (DSOA) announced.
Projects carried out by DSOA comprised half of all investments, while foreign investments at the hi-tech park contributed to the remaining half.
DSO also registered a 16% growth in recurring revenue over the previous year.
Commenting on DSO’s investments, H H Sheikh Ahmed, said: “The investment projects that DSOA is currently working on include the $353m (AED1.3bn) smart city project at Silicon Park, as well as the $15.2m (AED56m) 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 $12.5m (AED46m), the $6.3m (AED23.5m) water treatment plant, two electricity generating plants valued at $52m (AED192m), the $8m (AED30m) Lake Park project, the $11.9m (AED44m) roads improvement project and Techno-hub - an office building dedicated to technology companies valued at $26.4m (AED97m).”
DSO also attracted $490m (AED1.8bn) in foreign investment in 2015.
This included the $272m (AED1bn) Fakeeh Academic Medical Centre, the $136m (AED500m) Avenues Mall Silicon Oasis, the $54.4m (AED200m) Axiom Telecom high-tech headquarters as well as several other projects totalling $44.9m (AED165m).
H H Sheikh Ahmed added: "DSO’s outstanding record in attracting foreign investment is testament to the services and 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.
“DSO has developed its 2021 growth strategy that serves as a blueprint for expansion and shapes the tech-park’s development trajectory. This strategy is in line with Dubai’s vision to evolve as a smart city that encourages innovation and creativity, supports young technological talent and transforms their ideas into successful tech-businesses.”
- Union Properties profits drop 51% in 2016
- Rezidor signs contract for two new hotels in Dubai
- Sobha offers discount on DLD fees for Emiratis
- ADFD loans Sudan $90m to build hydroelectric plant
- SSH awarded Marassi Boulevard project in Bahrain
- UAE: Nakheel reports annual net profits of $1.35bn
- Qatar to be in IMD World Competitiveness Report
- CMCS launches project management office training
- Iran: 20 firefighers dead after high-rise collapse
- Macro wins international SCB contract