Dubai – Mubasher: Dubai Silicon Oasis (DSO) is expected to generate a revenue of AED 1 billion by 2020, compared to AED 590.5 million in 2017, Mohammed Al Zarooni, vice-chairman and CEO of the Dubai Silicon Oasis Authority (DSOA), the regulatory body for DSO, has said.
The number of firms operating in the integrated free zone technology park amounts to 2,491, he added, forecasting the licensed companies to grow 30% over the next two years, according to Emarat Alyoum newspaper.
DSO has attracted foreign investments worth of AED 4 billion, distributed over nine key economic sectors, while its population, comprising employees and residents, stands at around 77,000, the CEO noted.
It is worth noting that the Dubai-based free zone's revenue grew 11.2% to AED 590.5 million last year, according to the newspaper.
DSO has become one of the most important free zones in the region attracting international and regional technology companies to establish their business and augment their expansion and operations in the region, DSOA's chairman Sheikh Ahmed bin Saeed Al Maktoum previously stated.
In the same vein, Al Zarooni highlighted that the authority is attracting a steady influx of technology companies as the number of firms based in DSO rose from 2,120 in 2016 to 2,459 in 2017, marking a hike of 339 companies.
