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A new $300mn (AED1.1bn) Silicon Park project is set to be built over a 150,000m2 site within Dubai Silicon Oasis.

The Silicon Park project will contain 97,000m2 of office space, 25,000m2 of commercial property and 20,000m2 of residential, as well as a 115-room business hotel.

It will also have a number of restaurants, cafes, health and fitness centres, running and cycling trails, prayer rooms, a shopping centre and underground parking for over 2,500 cars. The entire park will also be covered by a free wi-fi network.

The buildings have also been designed to comply with the new UAE green buildings codes, with 50% of the buildings containing green roofs and the other 50% topped with solar panels. Smart lighting systems, water re-use and recycling and other sustainability measures have been incorporated into the design.

The launch of the new free zone technology park was announced yesterday by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority.

Sheikh Ahmed said: “Work has commenced, and the project will be completed by Q4 of 2017. The project articulates Dubai’s Vision 2021 to transform the emirate into a smart city while ensuring that it remains on par with the latest global trends for smart cities.”