Investment projects at Dubai Silicon Oasis worth AED3.6b

GMT 21:33 2016 Saturday ,26 March

Arab Today, arab today Investment projects at Dubai Silicon Oasis worth AED3.6b

Dubai Silicon Oasis Authority
Dubai - WAM

 H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, today announced that total investments in Dubai Silicon Oasis amounted to AED3.6 billion in 2015.

Projects carried out by the DSOA accounted for half of all investments, while foreign investments at the hi-tech park contributed to the remaining half.

Sheikh Ahmed bin Saeed, who is also Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, commended DSO for its strong performance that registered a 16% growth in recurring revenue over the previous year.

Commenting on DSOA 's investments, H.H. Sheikh Ahmed, said, "The investment projects that DSOA is currently working on include the AED1.3 billion smart city project Silicon Park, as well as the AED56 million student accommodation for the Rochester Institute of Technology Dubai. Other key projects that are underway include the fifth phase of implementation of light industrial units costing AED46 million, the AED23.5 million water treatment plant, two electricity generating plants valued at AED192 million, the AED30 million Lake Park project, the AED44 million roads improvement project and Techno-hub - an office building dedicated to technology companies valued at AED97 million."

DSO also attracted AED1.8 billion in foreign investment in 2015. This included the AED1 billion Fakeeh Academic Medical Centre, the AED500 million Avenues Mall Silicon Oasis, the AED200 million Axiom Telecom high-tech headquarters as well as several other projects totalling AED165 million.

said that DSO 's outstanding record in attracting foreign investment is testament to the exceptional services and state-of-the-art facilities it offers to hi-tech companies, investors and entrepreneurs. The increase in the number of companies operating out of DSO - up from 1391 in 2014 to 1920 in 2015 marking a 38 percent surge - is further evidence of the park's success.

He pointed out that the results reflect the growth in the UAE's technology sector, which is a crucial enabler in the country's diversification efforts as it transitions into a sustainable knowledge-based economy. DSO is committed to developing this vital sector and emerging as the preferred destination for technology companies locally and regionally by providing best-in-class services, facilities and infrastructure.

Sheikh Ahmed added, " DSO has developed its 2021 growth strategy that serves as a blueprint for expansion and shapes the tech-park's development trajectory. This strategy is in line with Dubai's vision to evolve as a smart city that encourages innovation and creativity, supports young technological talent and transforms their ideas into successful tech-businesses."

For his part, Dr Mohammed Alzarooni, Vice Chairman and CEO of DSOA , highlighted the success stories achieved in 2015 through attracting technology-focused organizations. Elaborating on the projects underway at DSO , Dr Al Zarooni said the tech park follows a strategy that aims to support and contribute to the overall direction of Dubai and the UAE in achieving sustainable development.

He noted that nearly 78 percent of the companies operating at DSO specialize in Technology, while the remaining 22 percent operate across a range of sectors including commerce and services. The current breakdown of organizations by country represented at DSO is as follows: 32 percent of the companies are European, 24 percent are Asian, 22 percent are from the Middle East and North Africa (MENA) region, 11 percent are from North and South America, while just above one percent originate from Australia and New Zealand.

Silicon Park In line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into the smartest city in the world, DSOA launched Silicon Park, the first integrated smart city project to be built at the integrated park at a cost of AED1.3 bn. Spanning an area of 150,000 square metres, the project is scheduled for completion by Q1 2018 and will integrate best international standards to offer a modern lifestyle for residents, workers and visitors.

The project will comprise 71,000 square meters of office space, 25,000 square meters of commercial space, and 46,000 square meters of residential space. It will also feature a hotel, community facilities like malls, shops, restaurants, and a multi-purpose conference centre.

DSO also signed an agreement with the Rezidor Group , member of the Carlson Rezidor Hotel Group to introduce the lifestyle select brand Radisson RED to Dubai. The Radisson Red Dubai Silicon Oasis is expected to open in Q3 2018.

Dr Mohammed Alzarooni said: "We are confident that Silicon Park's smart solutions combined with the strategic location of Dubai Silicon Oasis , will allow the hotel to offer its customers a unique experience within an integrated community that allows people to work, live and play. We look forward to working closely with Rezidor to ensure the hotel brand and experience are comprehensively articulated in the new property."

Two New Power Substations To keep pace with the growth of DSO -based companies, residences and future projects, DSOA allocated AED192 m to build two new power substations in collaboration with DEWA with a capacity of 400 megawatts. The stations will be built in two phases over 2017 and 2018.

Roads Improvement Project DSOA launched a roads expansion project in coordination with the Roads and Transport Authority in Dubai ( RTA ) with the aim of expanding its existing roads infrastructure at an estimated cost of AED16 million. DSOA also previously completed an AED28 million project that added 2.7 kilometres of roads to the integrated hi-tech park.

Lake Park DSO also launched the Lake Park project on an area of 81,715 square meters, at a cost of AED30 million. Once complete, the park will include retail outlets, kiosks, designated play areas for children, football pitch, and a variety of amenities for the convenience of residents.

Student Residences DSO commenced construction works for student accommodation for the Rochester Institute of Technology Dubai. Spanning an area of 10,000 square meters and costing AED56 million, the project comprises a four-storey building with 156 residential flats and will be completed in April 2016.

Augmentation of Water Treatment Plant DSO gives special attention to the environment in line with its CSR strategy that is based on three main pillars: community, environment and human resources. DSO implemented the region's first water saving subsurface irrigation system. The initiative, launched in collaboration with Rain Bird, the leading manufacturer and provider of irrigation products and services, aims to reduce the current irrigation water consumption levels and related operational costs at DSO by almost 40 percent.

DSO is also working on increasing the capacity of its water treatment plant from 10,000 cubic meters to 15,000 cubic meters daily. This project will increase the amount of recycled water to meet rising demands for green area irrigation. It will also ensure better use of water resources and help decrease the amount of pollutants affecting the environment.

Investors Projects Fakeeh Academic Medical Centre In line with Dubai's plan to attract as many as 500,000 medical tourists a year, construction works have commenced on the Fakeeh Academic Medical Centre (FAMC). The centre is a state-of-the-art smart hospital and medical university project being developed by Saudi Arabia's premier healthcare provider, Dr Soliman Fakeeh Hospital (DSFH).

Estimated to cost AED1 bn and set to spread over 150,000 square meters at the integrated free zone park, the Fakeeh Academic Medical Centre will be constructed in two phases. Phase 1 of the project is set for completion in 2017 and will include the delivery of a 150-bed state-of-the-art smart hospital. Phase 2 of the project, which will be completed in 2019, is set to increase the capacity of the hospital by an additional 150 beds. This second phase will also incorporate an academic component within the project through the opening of a research-focused medical university. The hospital will also include five centres of excellence specializing in diabetes and endocrinology, muscles, bones and joints, emergency medicine, pulmonary medicine and cardiology.

Axiom Telecom DSO is also set to host Axiom telecom's new AED200 m hi-tech headquarters. Currently under construction, the building equipped with the latest technology will offer an innovative campus-style facility that serves as a base for all major company operations.

Located over an area of 420,000 square feet, the new Axiom telecom facility - designed by the acclaimed Italian architects Marco Mangili Associati - will recreate the creative ambience of leading tech companies.

Avenues Mall Silicon Oasis DSO signed an agreement with a leading retail group to build Avenues Mall Silicon Oasis. The AED500 m project spanning over one million square feet will be completed in 2018.

New System with 350 Digital Services DSO completed automating more than 350 services through the application of the Microsoft Dynamics system. Offering electronic services via a designated customer portal, the new system will service DSO 's 1,920 clients and 55,000 residents. In less than three months, the new website registered 11,000 new service requests - an indication of its success and the satisfaction of the clients with its services.

77% Customer Satisfaction DSO achieved positive results in customer satisfaction, registering 77% overall satisfaction rates in the 2015 customer satisfaction survey. Dr Alzarooni said these results reflect the efforts of all DSO staff to meet and exceed customer expectations.

Dubai Technology Entrepreneur Centre (DTEC) Attracts 430 Start-ups Dr Alzarooni: DTEC helped create 2,470 new jobs in technology, and digital Islamic economy Dr Alzarooni said that Dubai Technology Entrepreneur Centre (DTEC), the largest centre of its kind in the region, has successfully attracted 430 start-up companies from 59 countries since it was launched in March 2015. The centre nurtures the talent of young entrepreneurs in the technology, digital Islamic economy and Arabic content sectors. Through DTEC, DSOA aims to provide a stimulating and interactive work environment that inspires creativity among start-up entrepreneurs. DTEC helped create 2,470 new jobs in technology, and digital Islamic economy.

Nearly 40 percent of companies operating out of DTEC are based in the MENA region, while Asian organizations make up 32 percent, European businesses 20 percent, American and Canadian firms 5 percent and Australian and German establishments 3 percent each.

Dr Alzarooni reiterated DSOA 's commitment to fully supporting young local entrepreneurs and encouraging creativity among talented UAE national entrepreneurs to help them achieve their goals and turn their ideas into reality. Enabling start-ups to secure the financial support they need, DTEC helped generate AED51 million from DSO and other investors at an average of AED118,000 for each company.

Commenting on this growth, Dr Alzarooni said future plans for DSO include expanding the space designated to entrepreneurs and start-ups by adding 1,000 square meters of office space to the new Techno Hub building next to DTEC. With this addition, the total space for entrepreneurs will spread across 4,600 square meters.

The establishment of DTEC follows DSO 's success with its technology incubator - Silicon Oasis Founders (SOF) - that was launched in April 2012 to support and encourage local entrepreneurs in the IT sector. SOF provides entrepreneurs with an opportunity to establish their own businesses and offers them a comprehensive set of support services, such as consulting services, workspaces, and networking opportunities.

Digital Islamic Economy and Arabic Content Reflecting its commitment to play a lead role in supporting emerging economies, DSO teamed up with Thomson Reuters for the inaugural Innovation 4 Impact Competition. The initiative encouraged the creation of well-rounded and enabling environments for incubating and developing technology ventures in the UAE and the wider region.

Supported by Dubai Islamic Economy Development Centre (DIEDC), Innovation 4 Impact was designed as a global platform for participating entrepreneurs to present their businesses, products or services to an expert panel and audience comprising prominent entrepreneurs, trade visitors and opinion leaders.

Strategic Partnerships As a strategic partner of Dubai's Smart City Initiative, and under the guidance and patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, DSOA is mandated to provide a physical site to host a laboratory within a functional workspace fitted out with standard office equipment, as part of its objective to shape a smart city centre of excellence and innovation. Furthermore, DSOA will be responsible for supporting the lab's objectives through attracting the UAE's best innovators and assisting them in further developing their talents through a range of workshops and training components.

DSOA also signed a memorandum of understanding with Intel, one of the world's largest and highest valued semi-conductor chip manufacturers, to jointly establish an innovative lab facility in the Middle East intended to support the development of a smart city centre of excellence and innovation within DTEC, DSOA 's wholly owned technology incubation centre.

Training Programs to Support Innovation In keeping with its commitment to supporting the growth of start-ups and entrepreneurs, DSOA signed a sponsorship agreement with SAP Training and Development Institute (SAP TDI) that appoints the firm as a non-exclusive sponsor of DTEC, the largest centre of its kind in the region.

As part of the agreement, DSOA will provide appropriate space within DTEC over a set period to host up to three SAP innovation boot-camps, including start-up focus events, which will be open to the public. Additionally, DSOA will nominate one of the DTEC meeting rooms as the 'SAP' Room.

DSOA and Microsoft Gulf signed a Memorandum of Understanding (MoU) that will enable DSOA 's tech start-ups to benefit to the fullest extent from free software and services available through the Microsoft Biz-Spark Program.

Under the MoU, Microsoft will enrol DSOA 's wholly owned technology incubation centre, DTEC, as a Microsoft Biz-Spark Network partner to provide all tech start-ups and innovators under its network with free and express access to its software and services

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