Company Insights Tecom Group Infrastructure Tecom Group Overview Tecom Group is a Dubai-based operator of business parks and free zones. The company has been developing business districts and associated facilities in Dubai since 1999 The majority of the company is owned by Dubai Holding Asset Management, the investment vehicle of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum. In June 2022 Tecom Group announced its intention to float on the Dubai Financial Market (DFM) and subsequently raised $1.67 billion from a heavily oversubscribed IPO. Tecom Group operates around 10 business districts dedicated to companies in industries including design, education, manufacturing, media, science, and technology. They include Dubai Design District, Dubai Industrial City, Dubai Internet City, Dubai Science Park, Dubai Media City, Dubai Studio City ,Dubai International Academic City and Emirates Towers District. Tecom Group is investing AED 4.5 billion ($1.2 billion) on its innovation strategy to drive entrepreneurship in the UAE. The districts include creative spaces, technology laboratories and smart buildings. It has also launched new business incubators and a platform for entrepreneurs and media start-ups Tecom has collaborated with the UAE’s Ministry of Industry and Advanced Technology to facilitate the country’s decarbonisation efforts. It is also working on developing a freight terminal at Dubai Industrial City for Etihad Rail, the UAE’s national railway project. Tecom Group News Retail UAE retailer Union Coop explores going public Dubai retailer and mall owner Union Coop has begun exploring a transition from a consumer cooperative society to a public joint-stock company. The company said the move is aimed at increasing its presence, expanding its operations and maximising its financial resources. Dubai-based law firm Al Tamimi Company has been appointed to conduct a study exploring the […] November 27, 2024 Finance Tecom profit up amid rise in commercial space demand Dubai-listed Tecom Group reported a 20 percent year-on-year increase in net profit to AED340 million ($92.6 million) in the third quarter of 2024, driven by steady demand for premium commercial and industrial properties. Revenue for the quarter rose 12 percent annually to AED611 million, supported by Dubai’s strong economic fundamentals and growing demand for commercial […] November 3, 2024 Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024 Finance Tecom revenue rises as occupancy climbs to 92% Dubai-listed Tecom Group reported strong revenues in the first half of 2024 as occupancy levels in its commercial and industrial assets reached 92 percent. Revenue for the first six months rose 9 percent to around AED1 billion ($300 million), supporting the net profit growth of 24 percent to AED603 million. Occupancy levels across the land […] August 4, 2024 Finance Profit up 15% at Dubai’s free zone operator Tecom Tecom Group, the Dubai-based operator of business parks and free zones, said earnings rose 15 percent year on year in the first quarter of 2024, driven by high demand for office and industrial space. Net profit reached AED293 million ($80 million) in the quarter ended March 2024, compared to AED255 million a year ago. Revenue increased […] May 3, 2024 Real Estate Ultra-luxe villas tipped to revive interest in Dubai’s The World Amali Properties plans to build 24 homes in the South American section of the island development May 2, 2024 Construction Nakheel and Meydan merge with Dubai Holding Two of Dubai’s largest state-backed developers – Nakheel and Meydan – will merge into Dubai Holding, the investment vehicle of Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum, to create a new global economic entity. Nakheel and Meydan will become part of Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, with […] March 17, 2024 Construction Dubai Science Park reveals expansion plans Dubai’s biotechnology free zone is adding 60 percent more offices, laboratories and warehouses over the next few years to cater for an influx of new companies, its senior vice-president told AGBI. Dubai Science Park, part of Dubai-listed Tecom Group, is planning an expansion of 200,000 sq ft of additional storage and logistics facilities at the […] February 23, 2024 Real Estate Tecom profit rises 49% on growing customer demand Tecom Group saw net profit for 2023 rise 49 percent year on year to AED1.1 billion ($299.48 million) on robust demand from new and existing customers across all its six business clusters. The company registered broad-based growth across the business, owing to the group’s ongoing efforts to enhance operations and reduce costs. Revenue reached a […] January 31, 2024 Analysis Markets Real estate trusts struggle despite strong Dubai market Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […] December 6, 2023 Posts navigation 1 2 … 4 Next
Retail UAE retailer Union Coop explores going public Dubai retailer and mall owner Union Coop has begun exploring a transition from a consumer cooperative society to a public joint-stock company. The company said the move is aimed at increasing its presence, expanding its operations and maximising its financial resources. Dubai-based law firm Al Tamimi Company has been appointed to conduct a study exploring the […] November 27, 2024
Finance Tecom profit up amid rise in commercial space demand Dubai-listed Tecom Group reported a 20 percent year-on-year increase in net profit to AED340 million ($92.6 million) in the third quarter of 2024, driven by steady demand for premium commercial and industrial properties. Revenue for the quarter rose 12 percent annually to AED611 million, supported by Dubai’s strong economic fundamentals and growing demand for commercial […] November 3, 2024
Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024
Finance Tecom revenue rises as occupancy climbs to 92% Dubai-listed Tecom Group reported strong revenues in the first half of 2024 as occupancy levels in its commercial and industrial assets reached 92 percent. Revenue for the first six months rose 9 percent to around AED1 billion ($300 million), supporting the net profit growth of 24 percent to AED603 million. Occupancy levels across the land […] August 4, 2024
Finance Profit up 15% at Dubai’s free zone operator Tecom Tecom Group, the Dubai-based operator of business parks and free zones, said earnings rose 15 percent year on year in the first quarter of 2024, driven by high demand for office and industrial space. Net profit reached AED293 million ($80 million) in the quarter ended March 2024, compared to AED255 million a year ago. Revenue increased […] May 3, 2024
Real Estate Ultra-luxe villas tipped to revive interest in Dubai’s The World Amali Properties plans to build 24 homes in the South American section of the island development May 2, 2024
Construction Nakheel and Meydan merge with Dubai Holding Two of Dubai’s largest state-backed developers – Nakheel and Meydan – will merge into Dubai Holding, the investment vehicle of Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum, to create a new global economic entity. Nakheel and Meydan will become part of Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, with […] March 17, 2024
Construction Dubai Science Park reveals expansion plans Dubai’s biotechnology free zone is adding 60 percent more offices, laboratories and warehouses over the next few years to cater for an influx of new companies, its senior vice-president told AGBI. Dubai Science Park, part of Dubai-listed Tecom Group, is planning an expansion of 200,000 sq ft of additional storage and logistics facilities at the […] February 23, 2024
Real Estate Tecom profit rises 49% on growing customer demand Tecom Group saw net profit for 2023 rise 49 percent year on year to AED1.1 billion ($299.48 million) on robust demand from new and existing customers across all its six business clusters. The company registered broad-based growth across the business, owing to the group’s ongoing efforts to enhance operations and reduce costs. Revenue reached a […] January 31, 2024
Analysis Markets Real estate trusts struggle despite strong Dubai market Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […] December 6, 2023
