Dubai-based TECOM Group PJSC, a key player in the emirate’s business district development, has announced a cash dividend of AED 400 million for its shareholders. This payout, approved during the company’s Annual General Assembly Meeting held at Dubai Internet City, covers the second half of 2024 and brings the total dividend for the year to AED 800 million.

Shareholders will receive 8 fils per share for this latest round of payouts, keeping in line with TECOM Group’s dividend policy, which is set to remain in effect until at least mid-2025.

Strong Performance and Future Outlook

TECOM Group has reported solid financial growth, with revenues reaching AED 2.4 billion—an 11% increase compared to last year. Net profits also saw a strong rise, growing by 14% to AED 1.2 billion.

Occupancy rates across TECOM’s properties remain high at 94%, while tenant retention stands at 92%, reflecting the company’s stable performance and strong demand for its business spaces.

Strategic Investments and Expansion

During the meeting, Malek Al Malek, Chairman of TECOM Group, highlighted the company’s ongoing investments, totaling AED 2.7 billion. These funds are being used to drive long-term growth, strengthen TECOM’s market position, and enhance returns for investors.

TECOM Group currently operates ten specialized business districts across Dubai, serving over 11,900 businesses and more than 137,000 professionals across multiple sectors.

With Dubai’s economy continuing to expand, TECOM Group is positioning itself for sustained growth and profitability. The company remains committed to supporting businesses, attracting global investments, and maintaining strong shareholder value in the years ahead.