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Chairman of Dubai Silicon Oasis Authority Announces 131% Higher Profits for DSO - His Highness Sheikh Ahmed Bin Saeed announced 131% higher profits for DSO. Revenues increase by 148% for first half 2010 against comparable period last year. Registers 25% growth to total 318 number of companies
Chairman of Dubai Silicon Oasis Authority Announces 131% Higher Profits for DSO

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2010/08/07 - His Highness Sheikh Ahmed Bin Saeed announced 131% higher profits for DSO. Revenues increase by 148% for first half 2010 against comparable period last year. Registers 25% growth to total 318 number of companies.

   
 
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His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), today announced the high-tech park recorded 131 percent growth in profits for the first half of this year against the same period last year.

Dubai Silicon Oasis (DSO) registered a 148 percent increase in revenue while the total number of companies operating at the high-tech park for the microelectronics and the semiconductor industry rose by 25 percent to total 318 for the same period.

His Highness Sheikh Ahmed noted that the results achieved for the first quarter of 2010 confirms DSO’s strong investment fundamentals and its growth opportunities. He also commended the Dubai Circuit Design Centre headquartered at Dubai Silicon Oasis for winning six new projects in collaboration with leading technology companies to design circuits for semi-conductor chips of TSMC 40 nanometers.

Dr. Mohammed Al Zarooni, Vice Chairman & CEO of Dubai Silicon Oasis Authority, said: “Since the global financial crisis unfolded, Dubai Silicon Oasis has devised a flexible strategy to tackle future challenges and enable smooth operations while maintaining its annual growth rate. The excellent first quarter performance bears testimony to the effectiveness of our meticulous policy.

“In addition, DSO has attracted global technology firms by providing additional services and facilities and creating an ideal environment for start-up businesses. Our client portfolio currently comprises 66 percent technology companies, ranging from IT and electronics to telecommunications, semiconductor and energy companies. Engineering and the retail sector represent 4 percent each of the total number of companies at DSO, while 26 percent encompass diverse businesses.”

Region-wise breakup of companies at DSO indicates 45 percent Europe-based, 11 percent American, and 18 percent Asian. Companies from the Middle East and North Africa region constitute 26 percent of the total entities operating at the high-tech park.

In addition to an impressive performance for the first half of the year, DSO also welcomed renowned global and regional brands to its premises, including the US-based Invensense Inc., leading providers of micro electromechanical system-based (MEMS) motion processing products for consumer electronics. It will also host a team of software engineers to develop product applications as well as a dedicated group of professionals to work on the design and development of new MEMS products.

During the same period, Ketab Technologies, specialized leaders in developing interactive software educational solutions, joined Dubai Silicon Oasis. Additionally, Keross, a world leader in smart business services that provides tailor-made software and technological solutions, has also set up its offices at DSO.

Wacker Chemie AG of Germany, a leading global supplier to the chemical, semi-conductor and solar industries, recently opened its regional headquarters for the near and Middle East region as well as a new international training centre for construction chemicals at DSO.

The Wacker Chemie training centre will focus on construction chemicals and promote the transfer of expertise to local customers and business partners, thereby helping to further tap into the region’s fast-growing market for modern construction chemicals. At the same time, it will serve as an ideal platform for sector-specific networking between customers, distribution partners and Wacker specialists.

3W Networks, one of the region’s premier systems integrator specializing in providing turnkey communication, safety and security solutions to the oil and gas, power utilities, telecom operators, transport and fibre optic infrastructure sectors, also announced it will establish its regional engineering centre of excellence within the integrated free zone technology park.

3W Networks’ operations at DSO will combine high value systems design and engineering, 24/7 technical assistance and product assembly. The 1,350-sq meter office premises will host product specialists, engineers and technicians to provide solutions that meet the highest international standards.

Additionally, Sensehere Technology, a new generation wireless technology producer and fabless chip developer, has joined the companies operating at the integrated free zone technology park. The announcement coincides with Sensehere’s introduction of patented low-power consuming ‘mixed signal processors’ for wireless signal networks (WSN) in the region.

Dubai Silicon Oasis already hosts several major companies such as Porsche Middle East; Schneider Electric, a multinational specialized in management software for energy companies; Maven, an integrated service provider for the telecommunications industry, as well as other leading firms such as Western Digital, Fujitsu, and Wavetec.

In real estate investments, Dubai Silicon Oasis has successfully completed the leasing and sales of all 368 units at Phase-I of its AED1.55 billion Cedre Villas project. Serviced by many amenities and other facilities, Phase-I was launched for lease in October 2009.

The construction of Phase-II of this project was delivered in June 2010, where almost 40 percent of the units have already been leased and sold, reiterating the attractive propositions of the development.

Moreover, nearly 126 plots are currently being developed at Dubai Silicon Oasis out of which the construction of 44 fitted-out buildings has been completed during the first half of this year. Additionally, the hi-tech park will house three mosques, the first of which was delivered in June 2010 with a 300-person capacity. The 1,000-capacity second mosque will be delivered within 18 months while construction of the third mosque will commence by the end of Q3 2010.

Dubai Silicon Oasis also hosts the GEMS School and the International Indian High School in addition to a health clinic located near the Cedre Villas development that is expected to be operational in October 2010. DSO has also initiated the AED30-million modernisation of the first phase of the water treatment plant in collaboration with Metito Overseas.

The opening of the Rochester Institute of Technology (RIT) - Dubai in 2008 marked another milestone for DSO. The campus currently meets the scientific needs of more than 400 students and graduates. Upon the completion of the first phase of its new headquarters in September 2010, this international teaching facility will pursue major developments and accommodate an increased number of students who wish to major in technology, business and electronic engineering.
A wholly-owned entity of the Government of Dubai, the Dubai Silicon Oasis operates as a free zone technology park for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional headquarters and R&D facilities in the Middle East and Africa region.

About Dubai Silicon Oasis (DSOA)
Dubai Silicon Oasis Authority (dso.ae), a 100% owned entity by the Government of Dubai is a free zone, strategically placed on the Emirates road. DSOA's urban master-planned community spans 7.2 square kilometers of state of the art office towers, R&D and industrial zones, educational institutions, luxury apartments, villas, hotels, healthcare and a full range of lifestyle facilities which translate into a dynamic commercial and social environment. Businesses can flourish under the unrivalled package of incentives, including 100% ownership, and high end IT infrastructure that allows companies to begin operating immediately.

 
 
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Written by / Agency / Source: Dubai Silicon Oasis Authority

 
 

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Chairman of Dubai Silicon Oasis Authority Announces 131% Higher Profits for DSO

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Publisher Contact: Mazen El Dirany - DSO.ae 
+971505041515 meldirany[.]dso.ae
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Dubai Silicon Oasis Authority securities in any jurisdiction including any other companies listed or named in this release.

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