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.


“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.

 


Khaleej Times




  MENA News Headlines
 Apr 27 2015 - Omani Tourists Stranded In Nepal Foreign Ministry Forms Evacuation TeamMuscat Daily
(MENAFN - Muscat Daily) The Nepal Embassy in Muscat has said that five Omanis are stranded in Kathmandu which has been left devastated by the earthquake.Bharat Kumar Regmi, chargé d'affaires at the ...

 Apr 27 2015 - H E Rumhi To Open Comex TodayMuscat Daily
(MENAFN - Muscat Daily) The IT, Telecom and Technology Show (Comex 2015) will begin at the Oman International Exhibition Centre on Monday under the patronage of H E Dr Mohammad bin Hamad al Rumhi, ...

 Apr 27 2015 - Agreement On Direct Shipping Line Between Iran And Sohar SignedMuscat Daily
(MENAFN - Muscat Daily) A direct shipping line between Oman and Iran came to fruition with the signing of an agreement between the two countries on Saturday.The new route will be created between ...

 Apr 27 2015 - Eshtaghal EXPO employment fair open for 2 daysDaily News Egypt
(MENAFN - Daily News Egypt) The Eshtaghal EXPO kicked off Friday with the aim of breaking the barrier between youth and more than 25 companies."We are creating real work and training opportunities," ...

 Apr 27 2015 - $300m needed to complete Grand Egyptian Museum: Antiquities MinistryDaily News Egypt
(MENAFN - Daily News Egypt) The Ministry of Antiquities is working towards securing $300m to complete the Grand Egyptian Museum's construction, after costs rose from $800m to $1.1bn, Antiquities ...

 Apr 27 2015 - Housing ministry requests tightened measures to avoid construction violationsDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Housing Mostafa Madbouly asked Minister of Local Development Adel Labib to tighten measures, place the necessary procedures and abide by the provisions of the ...

 Apr 27 2015 - Petroleum Ministry owes EGP 100bn to Finance MinistryDaily News Egypt
(MENAFN - Daily News Egypt) The Petroleum Ministry's crisis regarding its obligation to pay dues of foreign partners was aggravated recently, due to the petroleum sector paying support expenses from ...

 Apr 27 2015 - Surplus cement supply stabilises prices for 5th monthDaily News Egypt
(MENAFN - Daily News Egypt) Cement producers have decided to keep the prices of cement stable for the fifth consecutive month, Minister of Supply Khaled Hanafy announced Sunday.Medhat Stephanos, head ...

 Apr 27 2015 - Egypt- EGAS studies preparing Adabiya Port to receive 2nd gasification shipDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Natural Gas Holding Company (EGAS) is looking into preparing Adabiya Port in Suez to be able to receive the second gasification ship, after being unable to ...

 Apr 27 2015 - Tourism minister, Egyptian ambassador discuss tourism relationsJordan News Agency
(MENAFN - Jordan News Agency) Minister of Tourism and Antiquities, Nayef Al Fayez, and Egyptian Ambassador to Jordan Khaled Tharwat, discussed ways to enhance relations in the tourism field.The ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


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