Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai Silicon Oasis Authority profit surges 23.5% to Dh204.3m  Join our daily free Newsletter

MENAFN - Khaleej Times - 19/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN -Khaleej Times) dso operates as a free zone for companies producing semiconductors, microelectronics and other high-tech products seeking to establish regional headquarters and centres of research and development in the middle east and africa

The dubai silicon oasis authority, or dsoa, on tuesday said its 2013 net profit rose 23.5 per cent to dh204.3 million as it noted outstanding performance across all areas of its operations.


The authority said it has allocated dh2.4 billion investment to complete a number of projects by 2017.


“we are very proud of the sustainable growth achieved at dubai silicon oasis [dso] and look forward to continue setting new milestones in the future,” said shaikh ahmed bin saeed al maktoum, chairman of the dsoa.


Dso operates as a free zone for companies producing semiconductors, microelectronics and other high-tech products seeking to establish regional headquarters and centres of research and development in the middle east and africa. about 929 companies have been operating in technology free zone wholly-owned by the government of dubai.


“we have already commenced our path of transforming dso into an integrated smart city, in line with directives of dubai government to make dubai the smartest city in the world in the next three years. we are committed to making all future projects in dso provide services and facilities that are consistent with the smart city concept. we have allocated an investment of dh2.4 billion to complete a number of projects by end 2017,” said shaikh ahmed, who is also president of the dubai civil aviation authority, chairman of emirates airline and chief executive of the emirates group.


Dr mohammad alzarooni, vice-chairman and chief executive of the dsoa, said investment projects launched by the authority include the silicon park project, which will be the first integrated smart city in dubai. the project will span an area of 150,000sqm and developed at a cost of dh1.1 million. work on the project is already underway and will be completed by end of 2017.


“silicon park will emerge as an intelligent complex embedded with cutting edge technologies that fulfil the requirements of modern businesses and lifestyles. upon completion of the silicon park project, dso will be the first free zone to build an integrated smart project.”


Last year also saw companies operating under the dsoa growing to 929 with 65 per cent in the it industry and the remaining 35 per cent in the commercial and diversified service sectors. according to breakdown, about 35 per cent of the companies are european while 19 per cent and six per cent are asian enterprises and american firms, respectively.


“canadian organisations cover one per cent of the businesses at dso, with one per cent representing australia and 38 per cent comprising enterprises from the mena region,” according to the company’s statement.


Dso announced also plans to host a hospital and medical university project developed by saudi arabia’s premier healthcare concept, dr soliman fakeeh hospital. estimated to be built at a cost of dh1 billion across 150,000sqm, the project entitled “the university hospital” will be constructed in two phases. the hospital is expected to be completed by mid-2017, and will be followed by the medical college in 2019.


Dso has completed phase three of its light industrial units, or lius, with 100 per cent of the units rented. the lius include 22 flexible, modular and finished units that span over approximately 365sqm. each unit houses ground and first floor offices spreading over 150sqm, while the warehouse on the ground floor covers almost 210sqm.


Phase four of the lius is also underway with completion scheduled in fourth quarter this year. phase-four of the lius will include 27 full-facilities, flexible, modular and finished units.


On the residential front, dso has launched last year phase three of its cedre villas project. the dh285 million extension to the cedre villas will add 160 luxury villas, taking the total count to 1,207. phase 3 will be delivered in three stages during april, july and september 2014.

 






  MENA News Headlines
 Sep 2 2014 - Kuwait M2 surges 0.92 in JuneArab Times
(MENAFN - Arab Times) KUWAIT CITY Aug 11 (KUNA): Kuwait's Money Supply (M2) surged to KD 34305.3 million up 0.9 percent month-on-month announced Monday the Central Bank of Kuwait. In its monthly ...

 Sep 2 2014 - S1P affirms Kuwait AAA-1 credit ratingArab Times
(MENAFN - Arab Times) KUWAIT CITY Aug 16 (KUNA): Standard & Poor's (S&P) on Friday affirmed its 'AA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Kuwait ...

 Sep 2 2014 - Kuwait's July inflation rises by 2.712: reportArab Times
(MENAFN - Arab Times)  KUWAIT CITY Aug 25 (KUNA): Kuwait's annual record of the general index of consumer prices (inflation) rate rose in July by 2.71 percent compared with the same month of ...

 Sep 2 2014 - Summary of Local News Released Monday -1-Qatar News Agency
(MENAFN - QNA) - The State of Qatar has condemned human rights violations in Iraq, including killings , war crimes, crimes against humanity, practices of forcible displacement and deprivation of the ...

 Sep 2 2014 - US Calls on Israel to Reverse its Land Appropriation DecisionQatar News Agency
(MENAFN - QNA) The US administration criticized Tuesday Israel's announcement of confiscating 3,800 dunams of Palestinian land in the West Bank for settlement activity. A US State Department ...

 Sep 2 2014 - Spain condemns Israeli decision to seize Palestine lands in W. BankKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Spain Monday condemned the Israeli government's decision to seize hundreds of acres of Palestinian lands in the West Bank, urging the Israeli authorities to ...

 Sep 2 2014 - UNHRC demands Iraq to bring to justice ISIL perpetratorsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) UN Human Rights Council (UNHRC) Monday approved a resolution demanding Baghdad to bring to justice militants of the Islamic State in Iraq and the Levant (ISIL) ...

 Sep 2 2014 - Saudi Crown Prince Salman meets Hollande on Mideast, bilateral tiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Crown Prince Salman Bin Abdulaziz, who is also deputy Prime Minister and Defence Minister, kicked off an official visit to Paris Monday evening by dining at ...

 Sep 2 2014 - Battles NE Syria prompt mass exodus - SOHRKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Syrian army intensified the bombardment on the northeastern city of Al-Hasakah city, forcing some 60,000 residents to flee their homes in the recent days, the ...

 Sep 2 2014 - GCC expected to have 4.2 pct growth this year - reportKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A recent economic report has expected the Gulf Cooperation Council (GCC) to achieve a growth rate of 4.2 percent this year, worth about USD 1.7 trillion, compared ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help