Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has reported total revenue of AED544.7 million ($148.2 million) for 2020, marking a surge of 2.7 percent from 2019.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DSOA noted that this announcement is testament to 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.

DSO attracted 1,731 new companies in 2020, raising the total number of companies registered at the free zone technology park by 2020-end to 4,936, registering a 54 percent increase from 2019.

Sheikh Ahmed said that in a bid to enhance Dubai's position as a leading destination that attracts foreign direct investments, DSO keeps pace with innovation and supports entrepreneurship through qualitative initiatives. He noted that such achievements reinforce the confidence of regional and global companies in Dubai’s position as a leading hub for investment in technology, research and development, and Fourth Industrial Revolution solutions.

Dr Mohammed Al Zarooni, Vice Chairman and CEO of DSOA, highlighted the crucial role that DSOA will be playing, as an incubator for innovation and knowledge, in line with Dubai’s journey to become the world’s smartest and happiest city to live in, and a major player in attracting foreign investments. He noted that the value of major projects completed in DSO in 2020 reached AED4 billion.

Al Zarooni indicated that Dubai Silicon Oasis contributes to the economic development of Dubai, through the distinguished services and investment environment it provides for new companies. He also praised DSOA’s efforts in attracting new talent and providing entrepreneurs with all the facilities needed to launch and grow their projects.

He noted that the new developments in Dubai Silicon Oasis, whether in education of advanced technology or in smart healthcare services, contribute to knowledge-exchange and empower innovation through encouraging research and development.

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

The Dubai Technology Entrepreneur Campus (Dtec) DSOA’s wholly owned technology coworking space, is currently home to more than 900 startups from 72 countries – registering a surge of 7 percent over 2019, with many companies working on blockchain and AI technologies.

Dtec has attracted approximately 1,500 startups, created more than 3,500 jobs, and supported the inflow of close to AED500 million into the UAE economy since its inception. The hub expanded its premises by more than 60,000 sq ft to provide additional space for around 800 startups in the next three years, bringing up its total area to more than 108,000 sq ft.

Fakeeh University Hospital at Dubai Silicon Oasis, the first-of-its-kind smart university hospital in the UAE, was inaugurated last year. The AED1.5-billion smart hospital spans one million square feet, combining integrated AI-robotic systems and medical competencies to take the sector to new heights.

In the academic field, construction work on phase one of the AED500-million Rochester Institute of Technology – Dubai (RIT Dubai) at DSO has been completed. Phase one of the project spans 30,000 square meters, including academic classrooms and advanced laboratories, at an estimated cost of AED200 million.

Meanwhile, phase two is slated for handover in 2023 at a projected cost of AED300 million, adding 116,000 square meters to the campus. With the capacity to accommodate 4,000 students, the new campus will comply with the latest sustainability, smart city, and connectivity standards. – TradeArabia News Service