Dubai on Thursday launched a Dh12.8 billion expansion of one of the emirate's leading business hubs, aimed at creating tens of thousands of jobs, attracting billions of dirhams of foreign investment and boosting gross domestic product by Dh103 billion over the next decade.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the ambitious plans for Dubai Silicon Oasis would support efforts to build an “advanced, technology-driven business environment for emerging economic sectors” and cement the district's status as a global centre for innovation.
Sheikh Mohammed said the large-scale scheme would provide a “business ecosystem for 6,500 new companies and 75,000 specialised talents”, in a message shared on social media platform X.
The key initiative will focus on two new projects, District IO and Block 14, designed to act as catalysts for further economic growth.
District IO
District I0 will be powered by Dh11 billion of investment to provide infrastructure supporting future technologies and bolstering Dubai's status as a global hub for research, development and innovation.
It will comprise 25 energy-efficient buildings, including 18 commercial facilities, four residential properties, a conference centre and an innovation and experience centre. The project is expected to generate 70,000 jobs over the next 10 years.
The district will have the capacity to house more than 6,500 global companies, small and medium enterprises and start-ups working in future sectors, with a focus on smart mobility, 3D printing, robotics, X-Tech, artificial intelligence and quantum computing and Web3 technologies.
District I0 will be built in two main phases, with the first beginning this year to include office spaces, research and development laboratories, and dedicated retail areas.
The second phase development will begin in 2027, including hospitality centres such as a conference centre and innovation and experience centre.
District I0 will offer a range of incentives to attract top companies, including end to end business set-up solutions, advanced facilitation services, sector specific laboratories, funding support through dedicated capital investments, flexible leasing and payment solutions, access to academic and research networks, and product testing laboratories without the need for operational licenses in the UAE under RegLab.
Block 14
The first phase of Block 14, a residential and lifestyle district, will be supported by an investment of Dh1.8 billion.
Located near the Dubai Metro Blue Line station in Dubai Silicon Oasis, the project will be completed in 2029, coinciding with the completion of the major public transport scheme.
Dubai Silicon Oasis is a special economic zone for knowledge and innovation and part of the Dubai Integrated Economic Zones Authority.
It is already home to about 28,000 companies, while 90,000 people live and work in the community.
Sheikh Mohammed was joined at the launch ceremony by Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, Sheikh Ahmed bin Saeed, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ); Sheikh Mansoor bin Mohammed bin Rashid, President of the UAE National Olympic Committee; and several ministers and senior officials.
“The launch of Dubai Silicon Oasis’ expansion projects mark a pivotal advancement in our strategy to amplify the knowledge economy’s impact on inclusive and sustainable growth, establishing an enabling ecosystem that empowers global enterprises, regional investors, and next-generation innovators in advanced technology, AI, and future industries,” said Sheikh Ahmed.
“We view these projects as an integrated platform to strengthen public private partnerships, develop new business models that anticipate the future, and provide distinctive investment, professional, and educational opportunities for young talent and innovators worldwide.”
Dr Mohammed Al Zarooni, Executive Chairman of DIEZ, said the expansion strategy would further advance Dubai's growing business ecosystem.
“We are confident that this new strategic expansion will represent a qualitative leap in attracting more investments, particularly in future sectors, and in reinforcing Dubai’s position as a smart and sustainable urban economy,” he said.
