DOSA's Net Profit up 132% During H1 2012

Dubai Silicon Oasis Authority (DSOA) announced it has registered a profit in the first six months of 2012, approximately 132 per cent higher than the profit earned during H1 2011.The results indicate that DSOA has successfully implemented its strategic plans to become one of the region's leading technology hubs.

Chairman of DSOA H.H Sheikh Ahmed bin Saeed Al Maktoum, said: "The results are the direct outcome of our efforts to achieve our strategic objectives. Driven by a 53 per cent rise in operating profits, DSOA has witnessed a 39 per cent increase in its total revenues as compared to the same period in 2011." The total number of companies operating out of DSO reached 740; thus marking a 39.5 per cent increase at the close of 2011. Out of the total DSO-based companies, 67 per cent are in the technology sector. Among the business partners that DSO hosts, nearly 32 per cent comprise European firms. While American companies account for 11 per cent of the total, Asian companies make up close to 19 per cent. The percentage of Mena representation reached 35 per cent, whereas African firms covered two per cent, in addition to one per cent businesses from Australia.

Sheikh Ahmed anticipates Dubai Silicon Oasis to build upon its distinguished performance during the second half of 2012 and in the coming years through leveraging the economic recovery in the region in general and the UAE in particular. He pointed out that the intensive investment once again being directed towards numerous projects in the region will contribute significantly to Dubai Silicon Oasis' ambition of attracting international companies to establish their regional and global operations.Dubai Silicon Oasis recently signed an agreement with SAP to host a training and development institute at the technology park. Spearheaded by SAP Mena, a subsidiary of SAP AG, the Dh1.65 billion project will benefit the entire Middle East and North Africa region.

Sheikh Ahmed also pointed out that the foundation stone for the third phase of the Dh32.44 million Light Industrial Units project was recently laid. The zone, expected to be completed in the first quarter of 2013, will include 22 fully equipped facilities each covering an area of 365 square meters. The respective units will contain offices in the ground and first floors occupying an area of 150 square meters, while the warehouse will extend over 210 square meters. The Light Industrial Units will boast hi-tech features to enable seamless and efficient operations across the office/warehouse buildings. In addition to structural, mechanical and electrical fitted ceilings, the ready-for-occupation units will be equipped with an electronic sounder, complete fibre optic networking, as well as CCTV, 24-hour security and fire alarm system. Using eco-friendly and high-quality materials, the facility will meet green building specifications.

Dubai Silicon Oasis Authority in conjunction with Optimus Technology and Telecommunications recently launched the Silicon Oasis TechForum networking event, a platform for professionals, experts, academics and students to interact for building capacity in technology entrepreneurship and innovation across Dubai. The initiative is backed by Silicon Oasis Founders (SOF), a technology incubation centre wholly owned by DSOA. Rochester Institute of Technology (RIT) Dubai, a world-class university leading in technology, established in partnership with Dubai Silicon Oasis Authority (DSOA), has recently signed an educational partnership with the Information and Communication Technology (ICT) Fund of the Telecommunications Regulatory Authority (TRA) in the UAE. According to the agreement, the ICT Fund at TRA will offer scholarships to 24 UAE national students to pursue information and communication technology studies at RIT-Dubai.

DSOA opened doors to its second mosque on the first day of the Holy Month of Ramadan. Built over an area of 3,626 square meters, the mosque accommodates 833 worshippers. The first mosque with a capacity of 300 worshippers was handed over in June 2010. Work on designing a third mosque is underway in coordination with the Islamic Affairs and Charitable Activities Department in Dubai. Wholly-owned by the Government of Dubai, 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.