TECOM Group Unveils AED 2 Billion Growth Strategy

TECOM Group PJSC (DFM: TECOM), a leading developer of specialized business districts in Dubai, has announced the completion of a series of strategic acquisitions and new developments worth AED 2 billion. This milestone includes the acquisition of new commercial and industrial assets as part of an AED 1.7 billion strategic plan unveiled in May 2024.

The Group also announced the development of premium Grade-A office spaces valued at AED 340 million in Dubai Internet City with the launch of Innovation Hub Phase 3. This brings the total value of TECOM Group's investments in 2024 to over AED 2 billion.

These strategic moves have significantly expanded TECOM Group's portfolio. The Group's high-quality commercial assets now exceed 10 million sq.ft. of gross leasable area (GLA), while its land leasing portfolio has grown to 179 million sq.ft. This expansion reinforces TECOM Group's role as a strategic driver in Dubai's business sector and solidifies its leading position in the commercial and industrial real estate market.

TECOM Group's CEO, Abdulla Belhoul, stated, 'The new strategic acquisitions and projects worth AED 2 billion reflect TECOM Group's vision of fostering sustainable growth. TECOM Group is committed to continuing its pivotal role in bolstering the UAE's and Dubai’s knowledge-based economy and shaping the future of business through our world-class ecosystems that attract and empower globally renowned companies and talent across our 10 specialized business districts.'

Given TECOM Group's strategic expansion and its commitment to enhancing Dubai's status as a global business hub, investors should consider this a strong buy opportunity. The company's robust portfolio and future-focused initiatives position it well for sustained growth and profitability.