(MENAFN-Khaleej Times) dso operates as a free zone for companies producing semiconductors, microelectronics and other high-tech products seeking to establish regional headquarters and centres of research and development in the middle east and africa
The dubai silicon oasis authority, or dsoa, on tuesday said its 2013 net profit rose 23.5 per cent to dh204.3 million as it noted outstanding performance across all areas of its operations.
The authority said it has allocated dh2.4 billion investment to complete a number of projects by 2017.
“we are very proud of the sustainable growth achieved at dubai silicon oasis [dso] and look forward to continue setting new milestones in the future,” said shaikh ahmed bin saeed al maktoum, chairman of the dsoa.
Dso operates as a free zone for companies producing semiconductors, microelectronics and other high-tech products seeking to establish regional headquarters and centres of research and development in the middle east and africa. about 929 companies have been operating in technology free zone wholly-owned by the government of dubai.
“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 2017,” said shaikh ahmed, who is also president of the dubai civil aviation authority, chairman of emirates airline and chief executive of the emirates group.
Dr mohammad alzarooni, vice-chairman and chief executive of the dsoa, said investment projects launched by the authority include the silicon park project, which will be the first integrated smart city in dubai. the project will span an area of 150,000sqm and developed at a cost of dh1.1 million. work on the project is already underway and will be completed by end of 2017.
“silicon park will emerge as an intelligent complex embedded with cutting edge technologies that fulfil the requirements of modern businesses and lifestyles. upon completion of the silicon park project, dso will be the first free zone to build an integrated smart project.”
Last year also saw companies operating under the dsoa growing to 929 with 65 per cent in the it industry and the remaining 35 per cent in the commercial and diversified service sectors. according to breakdown, about 35 per cent of the companies are european while 19 per cent and six per cent are asian enterprises and american firms, respectively.
“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,” according to the company’s statement.
Dso announced also plans to host a hospital and medical university project developed by saudi arabia’s premier healthcare concept, dr soliman fakeeh hospital. estimated to be built at a cost of dh1 billion across 150,000sqm, the project entitled “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.
Dso has completed phase three of its light industrial units, or lius, with 100 per cent of the units rented. the lius include 22 flexible, modular and finished units that span over approximately 365sqm. each unit houses ground and first floor offices spreading over 150sqm, while the warehouse on the ground floor covers almost 210sqm.
Phase four of the lius is also underway with completion scheduled in fourth quarter this year. phase-four of the lius will include 27 full-facilities, flexible, modular and finished units.
On the residential front, dso has launched last year phase three 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.
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