DUBAI Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has launched Silicon Park, which will be built at a cost of Dh1.1 billion ($299 million).

The project spanning an area of 150,000 sq m will be the first integrated smart city project at DSO, the integrated free zone technology park.

“Work has commenced, and the project will be completed by Q4 of 2017,” said DSOA chairman Sheikh Ahmed bin Saeed Al Maktoum.

“We are confident that this project will succeed in offering a modern lifestyle for residents, workers and visitors. The project’s standards are aligned to the Dubai government’s strategic directions on smart cities that focus on six pillars: life, society, mobility, economy, governance and environment.”

The Silicon Park project comprises 97,000 sq m of office space, 25,000 sq m of commercial space, 20,000 sq m of residential area, and a 115-room business hotel in addition to value-added facilities that suit contemporary living such as restaurants, cafes, health and fitness centres, as well as running tracks and cycling trails, prayer rooms, a shopping centre and underground parking for more than 2,500 cars.