Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, announced that investments in Dubai Silicon Oasis reached AED 3.6 billion.
This means that local and foreign investors are aware of the value commercial and industrial real estate sectors have in Dubai’s sustainable future development, Al Maktoum has stressed out. Half of the mentioned investments volume was brought to Dubai Silicon Oasis by foreign investors. As a technology park DSO has registered a 16 per cent growth in recurring revenue over the previous year.
Dubai’s Government pays special attention to using modern technologies in urban development, thus, DSO authorities will spend AED 1,3 billion on the development of a Dubai Silicon Park ‘smart city’ on the territory of Dubai Silicon Oasis. This 150,000 sq m project will include 71,000 square meters of office space, 25,000 square meters of commercial properties, and 46,000 square meters of residential properties. The main idea of the project is to integrate all these elements in order to create a modern smart urban community to comfortably work and live in.
Most of the government’s investments will also be spent on construction of such facilities like electricity generating plants valued at AED 192m, the AED 30m Lake Park project, the Dh44m roads improvement project and Techno-hub — an office building dedicated to technology companies valued at AED 97m.