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
The Board of Directors of TECOM Group PJSC will hold a meeting on Thursday, January 30, 2025, at 3:00 PM. The agenda includes discussing and approving the annual audited financial statements for the year ending December 31, 2024, setting the date, time, and agenda for the annual general assembly of shareholders, and addressing regular matters and any other business. The meeting notice is addressed to Mr. Hamad Ali, CEO of Dubai Financial Market, and a copy is sent to the Securities and Commodities Authority. The letter is signed by Malek Al Malek, Chairman of the Board of Directors.
TECOM Group reported a 23% year-on-year increase in net profit for the first nine months of 2024, reaching AED 943 million, driven by record revenues of AED 1.7 billion, a 10% increase from the previous year. The company's EBITDA rose by 13% to AED 1.4 billion due to increased revenues and operational efficiencies. Funds from operations increased by 20% to over AED 1.2 billion, while total investments in commercial and industrial assets surpassed AED 2.7 billion. In the third quarter, TECOM achieved a 12% rise in revenue to AED 611 million and a 20% increase in net profit to AED 340 million.
The document is a review report and condensed interim consolidated financial statements for TECOM Group PJSC and its subsidiaries, covering the nine-month period ending on September 30, 2024. The classification of the document is confidential.