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

5 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

6 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

9 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

Page 5

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! 🚀

FinanceBroAED

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

Looks like you're building your own "TECOM Tower"! 🏢 Nice move, but don't let those utilities stocks short-circuit your plans! ⚡📈

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: Press Release

TECOM Group is investing AED 1.7 billion in strategic projects as part of its next phase of growth. The group's board of directors has approved a plan to expand its portfolio and promote sustainable growth. The plan includes acquiring high-quality office buildings in Dubai Internet City and industrial land plots. The investments are expected to contribute immediately to revenue growth and portfolio value appreciation and meet market demand in the medium to long term. This expansion plan reflects TECOM Group's confidence in the demand for commercial Grade A spaces and industrial assets, supported by Dubai's strong economic development. The investments will be carried out by TECOM Group's subsidiaries. The group is well-funded to acquire these strategic assets, backed by strong financial performance and ample liquidity.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: BOD Meeting

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: Results of Earnings Call

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: TECOM Group Earnings Call

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: Press Release Regarding Financial Results for the 1st QTR of 2024

TECOM Group reported a 15% YoY increase in its net profit for Q1 2024, exceeding AED 290 million. This increase was driven by strong demand across all assets from both new and existing customers, resulting in a record-high portfolio occupancy rate of 91%. The group's Q1 2024 revenue also increased by 10% YoY to AED 564 million. EBITDA rose by 10% YoY to AED 439 million, with an EBITDA margin of 78%. The total number of customers surpassed 11,000, thanks to robust customer retention and the addition of new customers. The company's strong financial performance follows a record financial performance in 2023 and is underpinned by Dubai's robust economic performance and pro-growth government initiatives.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: Financial Statements for the 1st QTR of 2024

The document is a review report and condensed interim consolidated financial statements for TECOM Group PJSC and its subsidiaries. The report covers the three-month period ending on 31 March 2024. The information is classified as confidential.

1. Attached Document

Dubai Financial Market News

News Update From TECOM GROUP P.J.S.C. a year ago

Disclosure: BOD Meeting Results

On May 2, 2024, the Board of Directors of TECOM Group PJSC held a meeting where they reviewed and approved the condensed consolidated interim financial statements for the first quarter of 2024, as well as discussed regular matters and other businesses. The meeting's results were disclosed to the Dubai Financial Market and the Securities and Commodities Authority.

1. Attached Document

Page 5