TECOM Group, known for developing specialised business districts in Dubai, has completed its AED 1.7B strategic acquisition plan and is developing new office spaces worth AED 340M in Dubai Internet City. This expansion raises the company’s total 2024 investments to over AED 2B.
The move boosts TECOM Group’s portfolio to more than 10M square feet of gross leasable area (GLA) in commercial assets and 179M square feet in land leasing, strengthening its position in Dubai’s commercial and industrial real estate market.
“The new strategic acquisitions and projects worth AED 2B reflect our vision for sustainable growth,” said Abdulla Belhoul, CEO of TECOM Group. “We are committed to supporting the UAE’s and Dubai’s knowledge-based economy through our world-class ecosystems.”
In Dubai Design District (d3), TECOM is developing six Grade-A office buildings in Phase 2, an AED 825M project covering 629,000 square feet.
At Dubai Internet City, TECOM is launching Innovation Hub Phase 3, an AED 340M development offering 167,000 square feet of GLA, set for completion in mid-2027. Additionally, the company acquired two Grade-A office buildings for AED 420M, adding 334,000 square feet to its portfolio.
TECOM also expanded its industrial portfolio with an AED 410M transaction, adding 13.9M square feet of land for industrial leasing at Dubai Industrial City. These expansions align with Dubai’s economic initiatives, reinforcing the city’s global business hub status.
