Tecom Group posts Dh1.1 billion net profit in nine months

03/11/2025 02:57 AST

Tecom Group PJSC has reported robust financial results for the first nine months of 2025, with net profit surpassing Dh1.1 billion, marking an 18 per cent year-on-year increase. The Dubai-based developer and operator of specialised business districts attributed the growth to higher occupancy rates, increased rental income, and strategic portfolio expansion.

Revenue for the nine-month period rose 20 per cent to Dh2.1 billion, while EBITDA climbed to Dh1.7 billion, maintaining a healthy margin of 79 per cent. Funds from operations also saw a 16 per cent boost, reaching Dh1.5 billion.

The Group's operational performance reflected strong demand across its Commercial, Industrial, and Land Lease segments. Occupancy in Commercial and Industrial assets rose to 96 per cent, up 2 per cent from the previous year, while Land Lease occupancy surged 8 per cent to 98 per cent.

"Our robust financial and operational performance reflects our agility in navigating market dynamics and a disciplined focus on delivering customer value," said Abdulla Belhoul, CEO of Tecom Group. "The momentum is a result of our Dh4.3 billion strategic expansion plan and the continued global interest in Dubai as a top destination for Greenfield FDI projects."

In Q3 alone, Tecom Group recorded Dh724 million in revenue, up 19 per cent year-on-year, with net profit rising 10 per cent to Dh373 million. EBITDA for the quarter stood at Dh563 million, a 13 per cent increase from the same period last year.

A key highlight of the year was Tecom's Dh1.6 billion acquisition of 138 land plots in Dubai Industrial City, adding 33 million sq.ft. to its portfolio. This move expanded the Group's total Land Lease holdings to over 209 million sq.ft., reinforcing Dubai Industrial City's role as a hub for manufacturing and logistics.

The acquisition supports national initiatives such as Operation 300bn, Make it in the Emirates, and the Dubai Economic Agenda 'D33', which aim to accelerate industrial growth in the UAE.

Tecom also concluded its dividend policy with a final Dh400 million payout for H1 2025, completing a total of Dh2.4 billion in dividends over three years, in line with its commitment to shareholder returns following its 2022 listing.

Khaleej Times