Company Insights Tecom Group Infrastructure Tecom Group News 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 Construction Tecom to expand logistics facilities as profit rises 34% Tecom Group plans to develop new Grade A storage and logistics facilities as demand for high-quality commercial space surges across Dubai. The Dubai-based business park operator will add 200,000 sq ft of total gross leasing area for logistics and storage in Dubai Science Park. The expansion comes as the company posted a 34 percent year on […] November 1, 2023 Banking & Finance Dubai business park operator sees H1 profits up 13% Dubai business park operator Tecom Group’s net profit rose 13 percent year on year in the first half of 2023 to AED485 million ($132.05 million) due to higher occupancy levels. Revenue jumped six percent annually to AED1.05 billion during the first six months. The occupancy level for commercial and industrial assets stood at 87 percent […] August 2, 2023 Banking & Finance Tecom Group’s Q1 2023 profit jumps 34% to $69m Dubai business park operator Tecom Group reported a 34 percent year-on-year rise in net income to AED255 million ($69.44 million) in the first quarter of 2023, driven by strong revenue growth, improved operational efficiencies and sustained growth across all business segments. The group’s revenue increased 6 percent year on year to AED514 million, while EBITDA […] May 4, 2023 Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023 Banking & Finance Tecom’s profit up 28% in 2022 as revenue hits 22-year high Tecom Group reported a record 28 percent year-on-year (YoY) increase in net profit to AED725.62 million ($197.56 million) for 2022, as revenue rose 12 percent YoY to AED1.97 billion, the highest in 22 years. The results showed strong demand for the group’s commercial and industrial properties, supported by Dubai’s strong macroeconomic environment and buoyant business […] February 12, 2023 Dubai Science Park chief reveals ambitious plans for 20% growth Dubai Science Park is forecasting a 20 percent increase in the number of entities operating in the free zone, according to a senior executive. Innovative Life Sciences Lab announced this week it had opened a genomics testing lab there, with plans to initially create over 100 jobs, increasing its headcount by 200 percent. It joins […] February 3, 2023 Banking & Finance UAE capital markets set for ‘significant growth’, says regulator If 2022 was a year of recovery from the economic effects of the coronavirus pandemic, then 2023 will witness “significant growth” in the UAE capital markets. Mohamed Khalifa Al Hadari, deputy CEO of the Emirates Securities and Commodities Authority, told the inaugural Mena IPO Summit in Dubai that there are 11 initial public offerings (IPOs) […] January 25, 2023 Analysis Banking & Finance Rising global interest sets Dubai IPOs on course for strong 2023 Global stock markets may have suffered heavy losses but bourses in the Middle East and North Africa are thriving, recording 42 listings in 2022 and with a healthy pipeline of activity planned for the year ahead. According to Bloomberg data, Mena initial public offerings (IPOs) raised over $18 billion in 2022. This represents 47 percent […] January 20, 2023 Banking & Finance Mena to host first IPO summit with listings in high demand The Middle East’s first IPO-focused summit will take place in Dubai later this month after recent listings in the emirate proved a huge draw for international investors. Dubai Financial Market and the Dubai World Trade Centre (DWTC) have partnered to host the Mena IPO Summit – Dubai, which aims to unite the entire IPO value […] January 9, 2023 Posts navigation Previous 1 2 3 4 Next
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
Construction Tecom to expand logistics facilities as profit rises 34% Tecom Group plans to develop new Grade A storage and logistics facilities as demand for high-quality commercial space surges across Dubai. The Dubai-based business park operator will add 200,000 sq ft of total gross leasing area for logistics and storage in Dubai Science Park. The expansion comes as the company posted a 34 percent year on […] November 1, 2023
Banking & Finance Dubai business park operator sees H1 profits up 13% Dubai business park operator Tecom Group’s net profit rose 13 percent year on year in the first half of 2023 to AED485 million ($132.05 million) due to higher occupancy levels. Revenue jumped six percent annually to AED1.05 billion during the first six months. The occupancy level for commercial and industrial assets stood at 87 percent […] August 2, 2023
Banking & Finance Tecom Group’s Q1 2023 profit jumps 34% to $69m Dubai business park operator Tecom Group reported a 34 percent year-on-year rise in net income to AED255 million ($69.44 million) in the first quarter of 2023, driven by strong revenue growth, improved operational efficiencies and sustained growth across all business segments. The group’s revenue increased 6 percent year on year to AED514 million, while EBITDA […] May 4, 2023
Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023
Banking & Finance Tecom’s profit up 28% in 2022 as revenue hits 22-year high Tecom Group reported a record 28 percent year-on-year (YoY) increase in net profit to AED725.62 million ($197.56 million) for 2022, as revenue rose 12 percent YoY to AED1.97 billion, the highest in 22 years. The results showed strong demand for the group’s commercial and industrial properties, supported by Dubai’s strong macroeconomic environment and buoyant business […] February 12, 2023
Dubai Science Park chief reveals ambitious plans for 20% growth Dubai Science Park is forecasting a 20 percent increase in the number of entities operating in the free zone, according to a senior executive. Innovative Life Sciences Lab announced this week it had opened a genomics testing lab there, with plans to initially create over 100 jobs, increasing its headcount by 200 percent. It joins […] February 3, 2023
Banking & Finance UAE capital markets set for ‘significant growth’, says regulator If 2022 was a year of recovery from the economic effects of the coronavirus pandemic, then 2023 will witness “significant growth” in the UAE capital markets. Mohamed Khalifa Al Hadari, deputy CEO of the Emirates Securities and Commodities Authority, told the inaugural Mena IPO Summit in Dubai that there are 11 initial public offerings (IPOs) […] January 25, 2023
Analysis Banking & Finance Rising global interest sets Dubai IPOs on course for strong 2023 Global stock markets may have suffered heavy losses but bourses in the Middle East and North Africa are thriving, recording 42 listings in 2022 and with a healthy pipeline of activity planned for the year ahead. According to Bloomberg data, Mena initial public offerings (IPOs) raised over $18 billion in 2022. This represents 47 percent […] January 20, 2023
Banking & Finance Mena to host first IPO summit with listings in high demand The Middle East’s first IPO-focused summit will take place in Dubai later this month after recent listings in the emirate proved a huge draw for international investors. Dubai Financial Market and the Dubai World Trade Centre (DWTC) have partnered to host the Mena IPO Summit – Dubai, which aims to unite the entire IPO value […] January 9, 2023
