The Dubai Silicon Oasis Authority (DSOA) has announced a relief package for businesses and individuals affected by the Covid-19 pandemic. The package comprises exemptions, incentives and flexible payment plans for businesses, commercial tenants and residents occupying buildings owned by the authority, media reports said. DSOA is the regulatory authority for Dubai Silicon Oasis (DSO).
It is reported that the authority has approved various economic incentives to support the Emirate’s efforts in boosting its economic stimulus. Currently, DSOA has waived rent in the retail sector which is adversely affected by the pandemic.
In addition, the authority has approved incentive measures for startups occupying the Dubai Technology Entrepreneur Campus (Dtec). Dtec is the largest technology hub and co-working space in the Mena region. It is wholly owned by DSOA.
Dr Mohammed Al Zarooni, who is vice chairman and CEO of DSOA, told the media, “The exemptions and incentives approved by DSOA are in line with the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and seek to enable various businesses, including those working at DSO, to ensure business continuity and enhance their agility and resilience in dealing with the global effects of the COVID-19 outbreak. Reflecting our continuing support to our community and society, this move aligns with the wholehearted commitment of all economic and social sectors to the precautionary and preventive measures implemented across Dubai and the wider UAE as part of the National Sterilisation Programme.
“This initiative reaffirms our strong ties with our business partners and our community. DSOA is keen to boost the mutual trust we share with our business partners and tenants and support them in overcoming the current exceptional circumstances. We believe our collective efforts will go a long way in opening up sustainable opportunities for the future.”