Quotes: 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.

“silicopark 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.


Khaleej Times

  MENA News Headlines
 Nov 24 2015 - China home-price recovery slows in OctoberGulf Times
(MENAFN - Gulf Times) China's home-price recovery slowed in October, as a supply glut in less-prosperous cities challenges the authorities' efforts to revive the residential market with interest-rate ...

 Nov 24 2015 - Devaluation may force China to pay premium on Dim Sum debtGulf Times
(MENAFN - Gulf Times) China is set to pay more to sell sovereign bonds in Hong Kong than in the onshore market for the first time, as investors brace for the possibility of another yuan ...

 Nov 24 2015 - PetroChina, CNPC plan pipeline, refinery salesGulf Times
(MENAFN - Gulf Times) PetroChina Co and its state-owned parent are planning to sell assets before the end of the year that may include stakes in pipelines and refineries as the country's biggest oil ...

 Nov 24 2015 - Saudi Arabia ready to work with others to stabilise crude marketGulf Times
(MENAFN - Gulf Times) Saudi Arabia's cabinet said yesterday it was ready to cooperate with Opec and non-Opec countries to achieve market stability, days before Opec meets to review its year-long ...

 Nov 24 2015 - Issa Abu Issa on TAKREEM 2015 juryGulf Times
(MENAFN - Gulf Times) Prominent Qatari entrepreneur and Salam International chairman and CEO, Issa Abdul Salam Abu Issa was on the eminent panel of jury of 'TAKREEM 2015.' Established in 2010, ...

 Nov 24 2015 - Joyalukkas raises AED500mn to 'refinance and reduce borrowing costs'Gulf Times
(MENAFN - Gulf TimesDubai-headquartered leading jewellery retail chain Joyalukkas has raised a total amount of AED500mn through multiple banking arrangements. Part of this is a $80mn term loan with a ...

 Nov 24 2015 - Qatar Airways named the Best Mideast Airline serving ChinaGulf Times
(MENAFN - Gulf Times) Qatar Airways has been named the Best Middle East Airline serving China, at the 2015 Business Traveller China Awards, picking up the award for the fourth consecutive year."To be ...

 Nov 24 2015 - Qatar banks' loan-deposit ratio hits 115% in October QCB targets 100%Gulf Times
(MENAFN - Gulf Times) Qatar's banking sector witnessed loan-deposit ratio increase to 115% in October against 112% in the previous month; even as the Qatar Central Bank is aiming to limit the ratio ...

 Nov 24 2015 - Qatar brokers reconciliation deal between Libyan tribesGulf Times
(MENAFN - Gulf Times) The Libyan tribes of the Tuareg and Tebu yesterday signed a comprehensive reconciliation agreement under the auspices of HH the Emir Sheikh Tamim bin Hamad al-Thani to put an ...

 Nov 24 2015 - Suicide vest found on Paris street: Did Belgian suspect Abdeslam get cold feetAsia Times
(MENAFN - Asia Times) Salah Abdeslam In Washington the US State Departmentissued a global alert on Monday for Americans planning to travel following the deadly militant attacks in France and ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help