TECOM Group PJSC (DFM: TECOM), renowned for developing specialist business hubs in Dubai, has unveiled its impressive financial results for the first quarter of 2026. This performance underscores strong demand across its commercial and industrial properties.
Robust Financial Performance
In Q1 2026, TECOM Group achieved a revenue of AED 755 million, reflecting an 11% uptick from the previous year. This upward trend can be attributed to portfolio expansion, enhanced occupancy rates, and higher rental incomes, alongside new assets and projects that were completed in 2025.
The Group's EBITDA saw a 13% rise, reaching AED 610 million, demonstrating a strong margin of 81%, supported by effective cost management and operational improvements.
Net profit derived from ongoing operations climbed by 12% to AED 403 million, driven by an increase in EBITDA and structured financial practices.
Funds from Operations (FFO) also rose by 14% to AED 549 million, showcasing effective cash flow generation and a stable, diversified clientele.
High Occupancy and Sustained Demand
TECOM Group reaffirmed its strong positioning with impressive occupancy rates of 98% for both commercial and industrial segments.
Customer retention rates were reported at 94% for commercial assets and 99% for industrial assets, highlighting solid long-term relationships alongside significant demand within its business districts.
The company reported a weighted average lease term (WALT) of 8.8 years, indicative of stable long-term leasing commitments.
Growth Across Sectors
Revenue for commercial assets surged due to heightened occupancy and contributions from newly integrated properties.
Industrial assets showed sustained growth, propelled by strong demand and the expansion of industrial lands, with leasing activities progressing as anticipated.
Key Operational Highlights
During Q1 2026, TECOM Group emphasized several critical developments:
Dubai Media City celebrated its 25th anniversary as a central hub for creative enterprises.
Dubai Science Park marked 20 years of fostering advancements in science and research.
Dubai Industrial City highlighted its expanding global food and beverage ecosystem at Gulfood 2026.
Student enrollment across Dubai International Academic City and Dubai Knowledge Park exceeded 38,500, reflecting a 15% increase year-on-year.
ALAS Emirates Ready Mix announced plans for a new advanced facility in Dubai Industrial City.
AmSpec Group launched a new Agri & Food lab in Dubai Science Park.
Geneva College of Longevity Science held its second global symposium in association with Dubai Science Park.
Statement from the CEO
Abdulla Belhoul, CEO of TECOM Group, stated that these strong results reflect the resilience of Dubai's economy and ongoing investor confidence. He highlighted that the diverse business model, combined with strong occupancy and long-term leasing strategies, continues to drive sustainable growth.
Additionally, he reaffirmed TECOM Group’s commitment to bolstering forward-thinking industries and enhancing Dubai’s stature as a global business and knowledge hub.
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