TECOM Group PJSC, listed on the Dubai Financial Market under the symbol “TECOM”, has officially launched the fourth phase of its Innovation Hub project in Dubai Internet City. This expansion comes in response to increasing demand for premium-grade office space from international companies operating in high-growth economic sectors.
Valued at AED 615 million, the new phase will add 263,000 square feet of gross leasable area to Dubai Internet City, solidifying its reputation as a regional powerhouse for global and regional technology firms. This development also boosts TECOM Group’s total investment in the Innovation Hub to AED 2 billion, underlining the strategic importance of the project within the group’s long-term growth roadmap.
The announcement follows the outstanding success of the Hub’s third phase, which was fully leased out ahead of its expected completion in 2027. Similarly, the second phase has already been fully occupied by Fortune 500 companies and leading players in the digital economy, while the first phase has served as the cornerstone of this thriving innovation destination, hosting industry giants like Google and Gartner.
Slated for completion in 2028, the fourth phase will further expand TECOM Group’s portfolio of Grade A commercial assets. It is designed to accommodate the rising demand for high-quality office environments driven by the UAE’s progressive economic strategies, including the National Digital Economy Strategy and Dubai Economic Agenda D33.
Strategic Vision for Growth and Innovation
Commenting on the launch, Abdulla Belhoul, CEO of TECOM Group, reaffirmed the company’s dedication to supporting the UAE’s vital and future-focused economic sectors. “The UAE and Dubai continue to attract top-tier innovators and investors, thanks to a supportive business environment and visionary strategies such as the National Digital Economy Strategy and D33,” he said.
“This strategic investment emphasizes the critical role of Dubai Internet City in enabling the growth of the technology sector and meeting the evolving demands of the digital economy. TECOM Group possesses the resources and infrastructure needed to capitalize on favorable market conditions and deliver sustainable growth and value to our shareholders,” Belhoul added.
The company also confirmed that the development of the fourth phase will be funded through internal resources, maintaining its robust financial position and liquidity. This move follows TECOM Group’s strong financial performance during the first nine months of the year, driven by increased occupancy rates, rising rental values, improved operational efficiencies, and strategic expansion across its commercial and industrial asset portfolio.
For the first nine months of the current year, TECOM reported revenues exceeding AED 2.1 billion, a 20% increase year-over-year. Net profit also climbed to over AED 1.1 billion, reflecting an 18% rise compared to the same period in the previous year.
Dubai Internet City: A Legacy of Tech Leadership
Established in 1999, Dubai Internet City has evolved into the region’s largest technology hub, hosting a wide range of global tech leaders, startups, and Fortune 500 companies. The innovation district contributes approximately 65% of Dubai’s tech sector GDP, with a robust ecosystem that supports business growth and digital transformation.
With over 20 R&D and innovation centers, Dubai Internet City offers premium office spaces and advanced infrastructure that cater to diverse industry needs. It remains a key destination for digital economy pioneers from around the world.
Dubai Internet City is one of ten specialized business districts operated by TECOM Group, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Design District (d3), and Dubai Industrial City.
