Integrated Technology Park Achieves AED308 Million Operating Revenue

Marks 43 Per Cent Increase in Companies Based at Technology Park

Dubai-UAE: 18 April, 2012 - His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), today announced DSO has registered AED308.6 million operating revenue in 2011. The integrated technology park recorded AED719 million in revenues for 2011, up by 5.1 per cent, while marking AED131 million of net profit for the same period, which is 134 per cent higher than in 2010. DSO's current assets are estimated at AED7.5 billion.

Highlighting DSO's exceptional performance across all areas of operations during 2011, His Highness Sheikh Ahmed said: "The free zone witnessed a 43 per cent rise in company registrations, taking the total number of entities operating at the technology park to 531.

"European companies make up 32 per cent of the total number of companies operating at DSO, whereas American organisations comprise around 11 per cent. While Asian and MENA companies stand at 19 per cent and 37 per cent respectively, Australian companies make up one per cent. DSO hosts the regional headquarters of most of these companies."

DSO-based companies operate in various industries including software research and development as well as chip design and development for consumer goods, education and the service sectors. In addition, a range of companies work in the chemical products, semiconductors and solar energy space, in addition to offering communications and security solutions for sectors such as oil and gas, power, utilities, telecom operators, transport and fibre optics.

His Highness Sheikh Ahmed further said: In real estate, DSO sold or leased 85 per cent of the AED1.55 billion Cedre Villas development during 2011, while registering 100 per cent occupancy of the project in 2012.

"Development and construction works are progressing in 106 locations within DSO. We have completed construction of 79 buildings since the inception of the park. We also aim to commence on the third phase of the light industrial units. Comprising 22 units at a cost of AED22 million, the construction is scheduled to be completed in the first quarter of 2013."

Offering an outline of the park's achievements, His Highness Sheikh Ahmed said: "Dubai Silicon Oasis Authority recently launched the Silicon Oasis Founders (SOF), a technology incubation centre wholly owned by the authority. SOF was set up in response to market indicators that businesses participating in an incubator programme are far more likely to succeed in the long term. We believe that our holistic incubation approach is especially well suited to meet this need and will emerge as a leading incubator that supports high potential technology ventures in the seed phase.

"SOF will focus on fostering local entrepreneurial talent in the information technology, internet, e-commerce technology and mobile segments. The centre's expertise will offer business consultancy as well as financial, technical and marketing mentorship to help emerging entrepreneurs refine their business proposals, execute plans and accelerate growth. Additionally, SOF will assist provide services such as workspace facilities, networking opportunities with other IT professionals and venture capitalists."  

His Highness Sheikh Ahmed said: "Facilitating growth in the UAE is a key pillar of our strategy, which is extended even to our human resources. Further, given that human resources are the most important element in the production process, DSO remains committed to empowering individual employees. We have successfully developed human resources and motivated employees by providing best-in-class training programmes.

"Furthermore, Emiratisation remains a key priority for DSO. The park aims to achieve 70 per cent Emiratisation by 2015. We offer talented UAE nationals an opportunity to lead the organization with 75 per cent of senior management positions held by Emiratis, which reflects our philosophy. At present, DSO employs 290 UAE nationals, which represents an Emiratisation level of 65 per cent."

His Highness Sheikh Ahmed further elaborated that as part of its development objective, DSO aims to host quality education providers particularly in the technology space. A key achievement during 2011, DSO based Rochester Institute of Technology - Dubai (RIT- Dubai), a world-class educational university and leading institute for technology established in partnership with Dubai Silicon Oasis Authority (DSO), inaugurated its new dedicated campus in October 2011.

The new facility will serve the growing demand to take in more students building upon an increased intake of 34 per cent during 2011. The new campus will provide more lecture halls, engineering laboratories and larger space for student activities.

RIT Dubai offers internationally recognised degrees that are issued through its parent campus RIT in New York. The certification is accredited by the UAE Ministry of Higher Education and Scientific Research and the US Department of Education, which has led to a significant increase in the number of students enrolling at the university

DSO also witnessed the inauguration of two schools during 2011 - Gems School and the International Indian High School. 

His Highness Sheikh Ahmed explained that the integrated park prioritises the needs of residents and employees based at the park. Home to 30,342 people, DSO aims to eventually accommodate over160,000 residents.

As part of the community-friendly amenities, the first mosque with a capacity of 300 people was handed over in June 2010. Meanwhile, more than 80 per cent of the work has been completed on the second mosque that is scheduled for completion in July 2012 to coincide with the Holy Month of Ramadan. Work on designing a third mosque is underway in coordination with the Islamic Affairs and Charitable Activities Department in Dubai.

Pointing out that sustainable development is a core value at DSO, he said that DSO has also finalized an AED130 million sewer system networks with a capacity of producing 3,000 to 10,000 cubic metres of water daily that can be used for agricultural irrigation. Currently 49 buildings have been plugged to the sewerage system network while 12 buildings are currently being connected.

Moving forward, His Highness Sheikh Ahmed expressed confidence that DSO will build upon its economic performance through adopting a strategic plan that attracts the regional operations of a larger number of global companies.

Wholly-owned by the Government of Dubai, 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.

-Ends-

About Dubai Silicon Oasis:
Dubai Silicon Oasis Authority (DSOA), a 100% owned entity by the Government of Dubai is a free zone, strategically placed on the Emirates road. DSOA's urban master-planned community spans 7.2 square kilometers of state of the art office towers, R&D and industrial zones, educational institutions, luxury apartments, villas, hotels, healthcare and a full range of lifestyle facilities which translate into a dynamic commercial and social environment. Businesses can flourish under the unrivalled package of incentives, including 100% ownership, and high end IT infrastructure that allows companies to begin operating immediately.

For further information, please contact:
Mazen El Dirany
Dubai Silicon Oasis Authority
Associate Manager - Corporate Communications
Tel: (+971 4) 5015102
Fax: (+971 4) 5015350
Mobile: (+971 50) 2266956
Email: meldirany@dso.ae

Mathilda Saad
APCO Worldwide (JiWin Public Relations)
Tel: +9714 361 3879 (direct)
M: +97155 699 9890
Fax: +9714 388 8001
Email: msaad@apcoworldwide.com

Razi Hassan
APCO Worldwide (JiWin Public Relations)
(T) +971 4 3613598
(M) +971 553786543
(F) +971 4 368800
rhassan@apcoworldwide.com

© Press Release 2012