TECOM Group, listed on the Dubai Financial Market under the symbol “TECOM,” reported an 11% year-on-year increase in revenue to AED 2.3 billion for the first nine months of 2026, while recurring net profit rose 10% to AED 1.2 billion.
The results were supported by continued demand for the group’s assets across its 10 specialized business districts in Dubai, along with high occupancy and customer retention rates and the strategic expansion of its asset portfolio.
Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 11% to AED 1.8 billion, with the group maintaining a profit margin of 79%.
Commercial Assets
Abdulla Belhoul, Chief Executive Officer of TECOM Group, said the performance during the first nine months of the year reflected the strength of the group’s business model, backed by a diversified portfolio of Grade A commercial and industrial assets. He also highlighted the contribution of strategic expansions undertaken in recent years to the group’s financial performance and growing customer base.
He said, “Our financial and operational results for the first nine months of the year confirm the strength of demand for our diversified portfolio and our ability to achieve balanced growth across all asset classes. The expansion of our land leasing portfolio also contributed to faster revenue growth during the third quarter, driven by high occupancy and customer retention rates. We will continue to strengthen our asset portfolio and implement our expansion and growth strategy across vital sectors and industries of the future, supporting the delivery of the best sustainable value for our shareholders.”
Nine Months
TECOM Group’s revenue growth during the first nine months of 2026 was supported by an overall occupancy rate of 97%, higher average rental values and the positive contribution of recent portfolio expansions.
Revenue from commercial assets increased 10% year-on-year to AED 1.2 billion, supported by steady demand for Grade A office space and an increase in leasable areas. Occupancy in this segment stood at 95%, while customer retention reached 93%.
Industrial assets generated AED 365 million in revenue, up 13% from the same period last year. Occupancy reached 98%, with customer retention at 97%, reflecting continued demand from companies operating in manufacturing and logistics.
The land leasing portfolio recorded a 26% increase in revenue to AED 563 million, supported by growing demand and additional revenue from the expansion of the industrial asset portfolio.
Recurring net profit rose 10% to AED 1.2 billion, while cash flow from operating activities increased 11% to AED 1.6 billion, reflecting operational efficiency and effective collection processes.
The group’s overall customer retention rate improved to 95%, compared with 93% in the corresponding period of 2025, reflecting continued customer confidence in its business districts and services.
Third Quarter
TECOM Group maintained its revenue growth in the third quarter of 2026, reporting a 12% year-on-year increase to AED 809 million, compared with AED 724 million in the same quarter of 2025.
Commercial asset revenue rose 6% to AED 390 million, while industrial asset revenue increased 11% to AED 125 million. The land leasing portfolio recorded the highest growth among these segments, with revenue climbing 35% to AED 202 million.
EBITDA increased 11% to AED 627 million, with a margin of 78%. Recurring net profit also grew 12% to AED 417 million, compared with AED 373 million in the third quarter of 2025.
Occupancy across the group’s commercial and industrial assets stood at 97%, supported by continued demand from leading international and regional companies for its specialized business districts.
Operational Results
TECOM Group received two gold awards from the European Public Real Estate Association (EPRA) in 2026, recognizing its performance in the Best Practices Recommendations (BPR) for financial reporting and Sustainability Best Practices Recommendations (sBPR).
The recognition made TECOM Group the first company in the region to receive gold awards in both financial and sustainability reporting categories. It is also the only company listed on the Dubai Financial Market to have received an EPRA gold award.
In a separate development, Dubai Internet City, the region’s largest technology hub, entered into a strategic partnership with Luxembourg’s national innovation agency, Luxinnovation, to promote innovation, strengthen international cooperation and create further opportunities for knowledge and expertise exchange.
