Dubai Silicon Oasis, a free zone technology park for semiconductor, microelectronic and other high technology-based companies, has registered a  net profit of Dh165.4 million ($45 million) for 2012, up 26 per cent compared to a year ago.

Announcing outstanding performance across all areas of operations in 2012, Dubai Silicon Oasis Authority (DSOA) said its gross revenue hit Dh682.2 million, while its operating revenue grew 5 per cent to hit Dh159 million compared to the previous year.

The year additionally saw a 32 per cent increase in the number of companies operating under the Authority at Dubai Silicon Oasis.

The growth takes the total number of companies at the fully integrated technology hub to 711, with 68 per cent of those in the IT industry and the other 32 per cent related to commercial and service sectors and diversified investment.

Commenting on the results, DSOA chairman Sheikh Ahmed bin Saeed Al Maktoum said, “Our 2012 performance is an indication of the growing status of DSO as a centre for innovation and technology. The rise in profits is consistent with the vision of Sheikh Mohammed to shape the emirate into a regional and global centre for technology.”

Sheikh Ahmed pointed out that the authority had allocated Dh748 million to fund investment projects during 2013 as part of plans to shape DSO into a leading technology park through the provision of world class facilities for international companies looking to set up their regional headquarters in Dubai.

"The results reflect the successful implementation of DSOA’s strategic plan to become one of the region’s leading technology hubs and a commercially viable incubator for technological advancement," he noted.

Nearly 32 per cent of the companies at DSOA are European, with Asian companies representing 21 per cent and American firms accounting for 11 per cent.

African organisations cover three per cent, with one per cent of the businesses representing Australia and 32 per cent comprising enterprises from the Mena region. The breakdown of organisation by country in DSOA highlights the free zone’s international make-up.

”DSOA’s impressive performance in 2012 and our growing reputation as a regional hub for IT is a result of strategic efforts to attract more of the world's leading companies within the technology industry, and the continued development of the infrastructure required to satisfy the needs of investors and maintain our global reputation,” he added.

In July 2012, the construction on the third phase of the Dh32 million Light Industrial Units project was launched. The phase that is expected to be completed in the first quarter of 2013 will include 22 fully equipped units each covering an area of 365 sq m.

The respective units will contain ground and first floor offices that occupy an area of 150 sq m, while the warehouse will extend over 210 sq m.

The phase-four of the Dh43 million Light Industrial Units was also launched this year where construction works commenced during March.  Scheduled for completion in Q4 next year, the phase-four will include 27 full-facilities, flexible, modular and finished units.

On the 2013 outlook, Sheikh Ahmed said he expects 2013 to continue the trend to economic recovery, with the UAE perfectly placed to preserve the gains made during periods of boom.

"Intense investment, the recent announcement of several mega projects and the development of an integrated system allowing various economic sectors and dynamic players to work together will contribute to the growth of Dubai and the UAE," he added.-TradeArabia News Service