The free zone operator Dubai Silicon Oasis Authority (DSOA) reported revenue of Dh504.7 million across all operations for last year.
The authority said it registered an annual increase in profit of 43 per cent last year and earned Dh407.9 million in recurring revenue – a 20 per cent increase over 2013. The growth is a reflection of high occupancy levels, the DSOA said.
"Since the launch of Dubai Silicon Oasis in 2004, we have witnessed significant turnout by companies, entrepreneurs, investors and residents," said Sheikh Ahmed bin Saeed Al Maktoum, the chairman of the DSOA. "Office building occupancy has reached 98 per cent, while occupancy of light industrial units is at 96 per cent. The DSOA also completed more than 20 new projects in 2014, resulting in an increase of 331,000 square metres in office and residential space, 17 per cent more than what was delivered in 2013."
It said 1,151 companies were operating at Dubai Silicon Oasis by the end of last year compared with 893 in 2013, a 28 per cent increase. The IT industry accounted for nearly 63 per cent of the companies registered, DSOA said.
More than a third of the companies are European. Thirty-five per cent are Mena-based enterprises, while Asian enterprises make up 16 per cent, American ones account for 8 per cent and Canadian and Australian companies make up 3 per cent, it said.
This year the 39,000-square-foot Dubai Technology Entrepreneurship Centre (DTEC) is scheduled to open in Dubai Silicon Oasis.
“DTEC will play a significant role in defining new investment opportunities in the technology sector within the Arab region,” said Mohammed Alzarooni, the vice chairman and chief executive of the DSOA.
“They represent two main pillars of the DSOA’s plans towards achieving a fully integrated environment built on the foundation of a high-tech ecosystem and the technology sector.”
ascott@thenational.ae
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