TECOM GROUP P.J.S.C.

Ticker/ISIN

TECOM

AEE01081T004

Market/Country

Dubai Financial Market

United Arab Emirates

About TECOM GROUP P.J.S.C.

TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub.

The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses and land – to over 10,000 customers and more than 105,000 professionals.

TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience.

TECOM Group also provides industry specialised facilities, including media production studios, laboratories and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “GoFreelance” package serves freelance talents.

Latest Pressrelease Summaries from TECOM GROUP P.J.S.C.

TECOM Group reported a 23% increase in net profit for Q1 2025, driven by Dubai's strong economic performance and global investment appeal. Revenue rose 21% year-on-year to AED 680 million, supported by robust performance across all business segments and a strategic focus on sustainable growth. EBITDA increased by 23% to AED 540 million, with the EBITDA margin improving to 79%. The net profit reached AED 361 million, aided by higher revenue and effective capital management. The customer base grew by 6% to over 12,000, with strong demand for commercial, industrial, and land lease assets. The group's results reflect the strength of its diverse asset portfolio and its successful long-term growth strategy. Operational highlights include a 4% increase in commercial and industrial occupancy to 95% and a 2% rise in land lease occupancy to 98%.

Disclosure: Press release regarding financial results for the 1st QTR of 2025

2 days ago

TECOM Group PJSC and its subsidiaries have released their condensed interim consolidated financial statements for the three-month period ending on March 31, 2025.

Disclosure: Financial statements for the 1st QTR of 2025

2 days ago

The Board of Directors of TECOM Group PJSC will meet on Thursday, May 1, 2025, at 3:00 PM to review and approve the condensed consolidated interim financial statements for the first quarter of 2025, along with other regular matters and any additional business. This meeting has been disclosed to the Dubai Financial Market and the Securities and Commodities Authority.

Disclosure: BOD meeting

5 days ago

TECOM Group held its Annual General Assembly Meeting at Dubai Internet City, where shareholders approved a cash dividend of AED 400 million for the second half of 2024. This brings the total dividends for 2024 to AED 800 million. The Board of Directors was re-elected, and the financial statements for 2024 were approved. Chairman Malek Al Malek highlighted the group's strong performance in 2024, which included AED 2.7 billion in strategic investments aimed at sustainable growth. TECOM reported a 11% increase in revenues to AED 2.4 billion and a 14% rise in net profits to AED 1.2 billion for 2024, with high occupancy and retention rates. The group continues to focus on expanding its portfolio and enhancing customer satisfaction across its business districts.

Disclosure: Press release

2 months ago

The TECOM Group PJSC Annual Report for 2024 emphasizes the company's collaborative approach to business, highlighting how working together enhances business success.

Disclosure: Integrated report for the year 2024

2 months ago

The document provides clarifications regarding the appointment of proxies for attending the General Assembly meeting of TECOM Group PJSC. According to the Corporate Governance Guide, a shareholder eligible to attend the General Assembly can delegate someone, who is not a board member, company employee, or part of a securities brokerage company, to attend on their behalf via a written proxy. The proxy must explicitly state that the representative can attend and vote at the meeting. A person representing multiple shareholders cannot hold more than 5% of the company's issued capital. Individuals lacking legal capacity must be represented by their legal representatives. The shareholder's signature on the proxy must be authenticated by a recognized authority such as a notary public, chamber of commerce, economic department, licensed bank or company, financial market, or any other licensed authority in the UAE.

Disclosure: Invitation of General Assembly

3 months ago

TECOM Group PJSC has announced the opening of nominations for its Board of Directors. The nomination period is from February 17 to February 28, 2025. Interested individuals or shareholders who meet the criteria can apply by completing nomination forms available on the company's website and submitting them via email. Seven board members will be elected. The nomination period lasts ten days, and candidate details will be displayed on the company's website before the General Assembly meeting on March 10, 2025. Candidates cannot transfer their nomination after the period ends. The candidate list will be shared with relevant authorities after nominations close. Criteria for candidates include relevant experience, no criminal history, no recent removal from a board, a clean professional record, no ongoing legal issues, and contribution to board diversity. Applications must be submitted on time with all required documents, and selected candidates may be interviewed by the Nomination and Remuneration Committee.

Disclosure: Announcement Regarding the Opening of the Nomination for Board Membership

3 months ago

The Dubai Financial Market has been notified by TECOM Group PJSC about an upcoming earnings conference call. This call, which will discuss the company's financial statements for the fiscal year ending December 31, 2024, is scheduled for 3:00 PM on Thursday, February 13, 2025. The notification is signed by Abdulla Belhoul and a copy has been sent to the Securities and Commodities Authority.

Disclosure: Earnings Call

3 months ago

Threads

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Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 7 months ago

Disclosure: Results of BOD Meeting

On 26 September 2024, the Board of Directors of TECOM Group PJSC held a meeting at 4:30 pm to review and discuss the company's business and operations. The meeting was led by Malek Al Malek, Chairman of the Board of Directors. A copy of the meeting's disclosure was also sent to the Securities and Commodities Authority.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 7 months ago

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: Result of Earnings Call

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: Press release regarding financial results for the 2nd QTR of 2024

TECOM Group PJSC reported a 24% increase in net profit for the first half of 2024, reaching AED 603 million, driven by high occupancy rates and strong business performance. Revenue for H1 2024 grew by 9% year-on-year to AED 1.1 billion, supported by occupancy rates exceeding 92% and a successful business strategy. EBITDA also rose by 9% to AED 896 million due to overall revenue growth and operational optimization. Funds from operations increased by 24% year-on-year to AED 840 million. The Board of Directors approved an interim cash dividend of AED 400 million for H1 2024, to be distributed by September 2024. The Group's results reaffirm its role in supporting Dubai's knowledge-based economy by attracting global and regional companies to its specialized business districts.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: Earnings Call

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: Financial statements for the 2n QTR of

The document is a review report and condensed interim consolidated financial statements for TECOM Group PJSC and its subsidiaries, covering the six-month period ending on June 30, 2024.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. 9 months ago

Disclosure: BOD meeting

On 29 July 2024, Mr. Hamad Ali, the CEO of Dubai Financial Market, was informed that the Board of Directors of TECOM Group PJSC will hold a meeting on 01 August 2024 at 3:00 PM. The agenda includes discussing and approving the condensed consolidated interim financial statements for the first half of the financial year ending 30 June 2024, considering a proposal to distribute an interim cash dividend for the same period, and addressing regular matters and any other business. This information was also copied to the Securities and Commodities Authority.

1. Attached Document

JohnnyDebt

Commented on RealEstateKings Transaction regarding TECOM GROUP P.J.S.C. a year ago

Interesting move! TECOM GROUP at 2.55 AED per share seems like a strategic buy. Diversifying beyond Real Estate and Utilities could balance your portfolio. Keep a close watch on market trends!

TomFlooz

Commented on RealEstateKings Transaction regarding TECOM GROUP P.J.S.C. a year ago

Solid move! TECOM GROUP has strong growth potential. Diversifying into tech within your real estate-heavy portfolio could balance risk and reward. Keep an eye on market trends! 🚀

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