Dubai Silicon Oasis Authority Revenue Hits AED544.7 Million In 2020

DUBAI, (UrduPoint / Pakistan Point News / WAM - 27th Apr, 2021) H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), today announced that the DSOA achieved remarkable results in 2020 with total revenue of AED544.7 million, marking a surge of 2.7 percent from 2019.

He stressed that including the integrated free zone technology park as one of the five urban centres – a science and technology and knowledge hub that drives innovation, digital economy development and talent generation – as part of the larger Dubai 2040 Urban Master Plan, is a testament to its global status as a proof of concept for smart industries of the future.

He noted that this announcement is proof of the DSOA’s efforts to adopt cutting-edge technology in new sectors, in line with the government's directives to support the knowledge-based economy and benefit from the latest applications of the Fourth Industrial Revolution.

Sheikh Ahmed highlighted the fact that DSO attracted 1,731 new companies in 2020, raising the number of companies registered there by 2020-end to 4,936, registering a 54 percent increase from 2019.

The initiatives and policies implemented under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, paves the way for the world’s quickest recovery journey from COVID-19 and achieving the development of a sustainable future in Dubai, he noted.

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Mohammed Al Zarooni, Vice Chairman and CEO of the DSOA, highlighted the crucial role that the DSOA will be playing in attracting foreign investments. He noted that the value of major projects completed in DSO in 2020 reached AED4 billion.

He indicated that Dubai Silicon Oasis contributes to the economic development of Dubai, through the services and investment environment it provides for new companies.

DSOA inaugurated its AED1.5 billion Dubai Digital Park (DDP) project, spanning an area of 150,000 square metres (sq.m). Since its inauguration, several multinational companies have chosen DDP to house the headquarters of their operations. This led DDP to reach 80 percent occupancy rates for its office spaces and boutique buildings.

The smart solution-enabled community comprises 47,000 sq.m of office space, 17,000 sq.m of retail units, 235 smart residential apartments and more than 5,000 sq.m of ready-made and plug and play offices.

DDP provides 60 smart city services, at an investment of AED100 million, aim to promote smart city initiatives that are aligned with the vision of making Dubai the smartest and happiest city in the world.

900 Start-ups at DSO Dubai Technology Entrepreneur Campus (Dtec), DSOA’s wholly-owned technology co-working space and the largest of its kindly in the MENA region, is currently home to more than 900 start-ups from 72 countries – registering a surge of 7 percent over 2019, with many companies working on blockchain and artificial intelligence (AI) technologies.