Dubai Silicon Oasis launches $3.49bn expansion as Sheikh Mohammed backs future tech economy

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched expansion projects at Dubai Silicon Oasis, with total investments of AED12.8bn ($3.49bn).

The projects reinforce Dubai Silicon Oasis’ role as a key pillar of Dubai’s knowledge economy ecosystem and align with the emirate’s ambition to position itself as one of the world’s most future-ready cities.

Sheikh Mohammed said the launch reflects Dubai’s vision to anticipate and shape the future through advanced technologies deployed to serve people, the economy, and society, while continuing to build a sustainable knowledge economy rooted in innovation.

The launch ceremony was attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE; Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ); Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, President of the UAE National Olympic Committee; along with ministers and senior officials.

Dubai Silicon Oasis expansion

Sheikh Ahmed bin Saeed Al Maktoum said: “We continue implementing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to strengthen Dubai’s position as a global hub for innovation, technology, and the economy of the future through transformative projects that embody leadership and enhance the emirate’s ability to anticipate and embrace change.

“The launch of Dubai Silicon Oasis’ expansion projects mark a pivotal advancement in our strategy to amplify the knowledge economy’s impact on inclusive and sustainable growth, establishing an enabling ecosystem that empowers global enterprises, regional investors, and next-generation innovators in advanced technology, AI, and future industries.”

The projects are aligned with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33, integrating business, technology, housing, education, and entertainment within a smart and sustainable urban model.

DIEZ free zone

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “This step reflects DIEZ’s commitment to continuing its pivotal role in achieving the objectives of the Dubai Economic Agenda D33 by providing integrated residential, commercial, and investment environments within its free zones, supporting the private sector as a key partner to Dubai in the next 50 years particularly in new economic sectors, and contributing to the creation of quality jobs and enhancing Dubai’s global competitiveness.”

He confirmed the expansion will enhance Dubai Silicon Oasis’ position as a global platform for creators and innovators, attracting further investment in future-focused sectors.

The flagship District IO project represents AED11bn ($3bn) of investment and is designed to support future technologies, research, development, and innovation.

The development includes 25 LEED-compliant buildings, comprising 18 commercial buildings, four residential buildings, and hospitality facilities including a conference centre and innovation and experience centre.

District IO and Block 14

Over ten years, District IO is expected to:

• Create more than 70,000 direct and indirect jobs
• Contribute up to AED103bn ($28bn) to Dubai’s GDP by 2036
• Attract up to AED30bn ($8.17bn) in foreign direct investment by 2036
• Host more than 6,500 global companies, SMEs, and startups

The project focuses on six core sectors: smart mobility, 3D printing, robotics, X-Tech, artificial intelligence and quantum computing, and Web3 technologies.

Development will take place in two phases, starting in 2026, with the second phase launching in 2027.

The Block 14 project will see AED1.8bn ($490m) invested in a residential and lifestyle district aligned with the transit-oriented development model.

Located near the Dubai Metro Blue Line station within Dubai Silicon Oasis, the project is scheduled for completion in 2029, in line with the Blue Line’s launch.

On the sidelines of the launch, Sheikh Mohammed toured key projects within Dubai Silicon Oasis, including Fakeeh University Hospital and the Middle East’s first drone delivery project at the Rochester Institute of Technology Dubai, delivered in partnership with the Dubai Civil Aviation Authority, DIEZ, and the Dubai Future Foundation.