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TECOM GROUP P.J.S.C.

TECOM

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TECOM GROUP P.J.S.C.

Logotype for 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%.
TECOM Group PJSC and its subsidiaries have released their condensed interim consolidated financial statements for the three-month period ending on March 31, 2025.
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.
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.
The TECOM Group PJSC Annual Report for 2024 emphasizes the company's collaborative approach to business, highlighting how working together enhances business success.
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.
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.
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.

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News Update From TECOM GROUP P.J.S.C.

Disclosure: Press Release Regarding Financial Results For The Year 2023

TECOM Group has reported a record net profit of AED 1.1 billion for FY 2023, a 49% increase from the previous year. This was driven by strong performance across all business sectors. The company's revenue also grew by 10% YoY, reaching AED 2.2 billion, due to high occupancy rates across its portfolio. EBITDA increased by 23% YoY to AED 1.7 billion, with margins expanding to 76% from 68% in 2022. Funds from operations reached AED 1.4 billion, up 21% YoY. The market value of the Group’s real estate investments portfolio increased by 7.7% YoY to reach AED 22.9 billion. The Board of Directors has proposed a dividend payment of AED 400 million in April 2024, subject to shareholder approval.

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: Financial Statements for the year of 2023

The document contains confidential reports and consolidated financial statements for Tecom Group PJSC and its subsidiaries for the year ending on 31st December 2023.

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: Results of Board Meeting

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: TECOM Group Earnings Call

1. Attached Document

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News Update From TECOM GROUP P.J.S.C.

Disclosure: BOD meeting

1. Attached Document

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FinanceBroAED

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

TECOM at 2.6 AED? That's a steal, RealEstateKing! But with my -0.97% yield, I'm more like the court jester of finance. Teach me your ways!
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News Update From TECOM GROUP P.J.S.C.

Disclosure: Results of Board Meeting

On 11 December 2023, TECOM Group PJSC held a Board of Directors meeting. During the meeting, the board approved the business plan and budget for the years 2024-2028. They also discussed and approved regular matters and other businesses. The meeting was held at 3:00 pm and was chaired by Malek Al Malek. The results of the meeting were disclosed to the Dubai Financial Market and the Securities and Commodities Authority.

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: BOD Meeting

On 07 December 2023, Malek Al Malek, the Chairman of the Board of Directors at TECOM Group PJSC, informed the Dubai Financial Market about a board meeting scheduled for 11 December 2023 at 3:00pm. The meeting's agenda includes discussing and approving the business plan and budget for 2024-2028, along with other regular matters and business.

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: Result of Earnings Call

1. Attached Document

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DFM News

News Update From TECOM GROUP P.J.S.C.

Disclosure: Earnings Call Meeting

1. Attached Document

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