Dubai Silicon Oasis reports AED 292.4m profit in 2018

Dubai – Mubasher: Dubai Silicon Oasis, the free zone technology park, on Thursday posted a 42.1% year-on-year increase in its profits for the full-year 2018.

Net profits registered AED 292.4 million last year, compared to AED 205.7 million in 2017, Arabian Business reported.

Revenues of the government-owned incentivisation free trade zone in Dubai reached AED 576.9 million over the course of 2018.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis, said that the number of companies based in the Dubai Silicon Oasis increased by 6% year-on-year to 2,620.

Around 81% of these companies specialised in technology, while 19% focus on commercial services and other service sectors.

He highlighted the importance of Dubai’s free zones in supporting the economic development of the emirate, stressing the significant role of the oasis regarding its contribution to Dubai’s economic development through attracting companies operating in the knowledge, innovation, and technology domains.

Al Maktoum pointed out that Dubai Silicon Oasis provided opportunities for investment, innovation, and entrepreneurship.

It is worth noting Dubai Silicon Oasis comprises 71,000 square metres of office space, 25,000 square metres of commercial space, 46,000 square metres of residential area, in addition to restaurants, cafes, fitness centres, running tracks and cycling trails, a shopping centre and an underground parking garage.

Mubasher Contribution Time: 21-Mar-2019 14:16 (GMT)
Mubasher Last Update Time: 21-Mar-2019 14:24 (GMT)