TECOM GROUP P.J.S.C.

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.
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The document contains confidential reports and consolidated financial statements for Tecom Group PJSC and its subsidiaries for the year ending on 31st December 2023.
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.
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.
TECOM Group has reported a 20% year-on-year (YoY) increase in net profit for the first nine months of 2023, reaching AED 768 million ($209 million). Revenues rose by 7% YoY to AED 1.6 billion, driven by high occupancy levels across the company's portfolio. EBITDA increased by 14% YoY to AED 1.2 billion, with the EBITDA margin expanding to 78%. The company's Q3 2023 net profit also rose by 34% YoY to AED 283 million. TECOM Group has announced plans to develop new storage and logistics facilities in Dubai Science Park.