Dubai – Mubasher: The chairman of Dubai Silicon Oasis Authority (DSOA), Sheikh Ahmed bin Saeed Al Maktoum, on Monday laid the foundation stone for the W Motors Automotive Facility in Dubai Silicon Oasis to be the Middle East’s first-of-its-kind manufacturing facility with an investment of AED 370 million. 

The automotive facility will allow W Motors to significantly share its expertise and know-how, while contributing to Dubai’s economy through the creation of jobs, according to a press release on Monday.

The event was attended by the vice chairman and CEO of DSOA, Mohammed Al Zarooni, and W Motors founder and CEO, Ralph R. Debbas.

In a way to strengthen its position as an international testing ground for cutting-edge technology, Dubai is drawing foreign direct investments (FDI), international tech companies as well as promising start-ups and innovative entrepreneurs from around the world, Al Maktoum highlighted. 

“Free zones like Dubai Silicon Oasis continue to be the hub of choice for cutting-edge companies looking for advanced business ecosystems that provide full traction for launches and growth locally, regionally, and globally,” Al Maktoum commented.

Spanning over an immense 120,000 square feet, the first phase of the project will be completed by 2020. Production of all W Motors vehicles will move to this location, including the limited series Fenyr SuperSport, upcoming new vehicles,  electric and autonomous models, as well as all vehicles under the company’s Special Projects Division.

Through its unique ecosystem, Dubai Silicon Oasis helps businesses to benefit from Dubai’s role as a “springboard” for entities exploring growth prospects across the GCC, with opportunities totalling more than $1.5 trillion across all economic sectors, Al Zarooni explained.

It is worth pointing out that W Motors became the first private company to deposit its shares in Nasdaq Dubai's Central Securities Depository (CSD), a step that will enhance its links to investors.