Dubai Silicon Oasis Authority (DSOA) on Saturday announced that it had registered Dh504.7 million in revenue in 2014, while seeing a 43 per cent increase in total revenue.
DSOA has also earned Dh407.9 million in recurring revenue — a 20 per cent increase over 2013.
"DSO's success comes as a result of the prestigious services that keep pace with latest technology trends in the world,” said Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of DSOA. "Since the launch of Dubai Silicon Oasis in 2004, we have witnessed significant turnout by companies, entrepreneurs, investors and residents.”
According to Shaikh Ahmad, office building occupancy has reached 98 per cent, while occupancy of light industrial units is at 96 per cent. DSO has also completed more than 20 new projects in 2014, resulting in an increase of 331,000 square meters in office and residential space, 17 per cent more than what was delivered in 2013.
Companies operating at Dubai Silicon Oasis have increased from 893 to 1,151 registering a 28 per cent increase if compared with 2013. Nearly 63 per cent of these entities are from the IT industry while the remaining 37 per cent have interests in the commercial and diversified service sectors. The current breakdown of organisations by country represented in DSO is as follows: 38 per cent of the companies are European, Asian enterprises comprise 16 per cent, and American firms account for eight per cent. Canadian organisations cover two per cent of the businesses at DSO, whereas Australia comprises one per cent and 35 per cent represent Mena-based enterprises.
"DSO has developed a growth strategy until 2021. This strategy includes components that will help shape DSO's future trajectory, in line with the emirate's vision to become a smart, innovative city that encourages innovation and creativity and supports young technology minds to convert their ideas into successful tech-businesses,” Shaikh Ahmad said.
Dr Mohammad Al Zarouni, vice-chairman and CEO of DSOA said DSO's plan to provide the necessary support to Islamic economy initiatives in order to nurture related start-ups in the region, by hosting the Dubai Technology Entrepreneurship Centre, the largest such facility in the region. This comes in line with DSO's commitment to supporting Dubai's "Capital of Islamic Economy” initiative launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. As part of this priority to provide a fillip to Arabic digital content, DSOA launched the newly developed TechTerms application that is available in both Arabic and English for free download on iOS and Android devices. The application acts like a search engine for technical words and is embedded with a state-of-the-art technology dictionary.
Dr Al Zarouni said Emiratisation remains a key priority for DSO. "DSO has developed plans that aim to attract national talent and achieve 80 per cent Emiratisation by 2021. DSO has offered talented UAE nationals an opportunity to lead the organisation — with 68 per cent of senior management positions currently held by Emiratis. At present, DSO's headcount is 345 out of which 70 per cent are Emiratis. We strongly believe that careful nurturing of talent and expertise of both potential and existing employees benefit productivity in the long run. We have implemented a strong and successful human resources policy in place that encourages incentivising and motivating employees by offering the best training programmes.”
Source: Gulf News