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.
Threads
TomFlooz
Commented on RealEstateKings Transaction regarding TECOM GROUP P.J.S.C.
FinanceBroAED
Commented on RealEstateKings Transaction regarding TECOM GROUP P.J.S.C.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
TECOM Group is investing AED 1.7 billion in strategic projects as part of its next phase of growth. The group's board of directors has approved a plan to expand its portfolio and promote sustainable growth. The plan includes acquiring high-quality office buildings in Dubai Internet City and industrial land plots. The investments are expected to contribute immediately to revenue growth and portfolio value appreciation and meet market demand in the medium to long term. This expansion plan reflects TECOM Group's confidence in the demand for commercial Grade A spaces and industrial assets, supported by Dubai's strong economic development. The investments will be carried out by TECOM Group's subsidiaries. The group is well-funded to acquire these strategic assets, backed by strong financial performance and ample liquidity.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
TECOM Group reported a 15% YoY increase in its net profit for Q1 2024, exceeding AED 290 million. This increase was driven by strong demand across all assets from both new and existing customers, resulting in a record-high portfolio occupancy rate of 91%. The group's Q1 2024 revenue also increased by 10% YoY to AED 564 million. EBITDA rose by 10% YoY to AED 439 million, with an EBITDA margin of 78%. The total number of customers surpassed 11,000, thanks to robust customer retention and the addition of new customers. The company's strong financial performance follows a record financial performance in 2023 and is underpinned by Dubai's robust economic performance and pro-growth government initiatives.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
The document is a review report and condensed interim consolidated financial statements for TECOM Group PJSC and its subsidiaries. The report covers the three-month period ending on 31 March 2024. The information is classified as confidential.
Dubai Financial Market News
News Update From TECOM GROUP P.J.S.C.
On May 2, 2024, the Board of Directors of TECOM Group PJSC held a meeting where they reviewed and approved the condensed consolidated interim financial statements for the first quarter of 2024, as well as discussed regular matters and other businesses. The meeting's results were disclosed to the Dubai Financial Market and the Securities and Commodities Authority.