TECOM Group Posts 11% Revenue Growth to AED2.3 Billion in First Nine Months of 2026
Revenue rose 11% year over year, supported by leasing growth, portfolio expansion and occupancy rate of 97%.
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TECOM Group, the owner and operator of 10 specialized business districts in Dubai, reported an 11% year-over-year (YoY) increase in revenue to AED2.3 billion for the first nine months of 2026, supported by growth across all leasing segments, portfolio expansion, and high occupancy rates of 97%.
Recurring net profit rose 10% to AED1.2 billion during the period.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to AED1.8 billion, up 11%. Its EBITDA margin stood at 79%.
Commercial asset revenue increased 10% to AED1.2 billion, supported by demand for Grade A offices and an increase in leasable space, while industrial asset revenue rose 13% to AED365 million. Land lease revenue climbed 26% to AED563 million.
Customer retention across the group increased to 95% from 93% a year earlier. Funds from operations rose 11% to AED1.6 billion.
“Our financial and operational results for the first nine months of 2026 underscore the strong demand for our diversified portfolio and our ability to achieve balanced growth across all our asset classes,” Abdulla Belhoul, Chief Executive Officer of TECOM Group, said.
“The expansion of our industrial land lease portfolio also contributed to accelerated Q3 revenue growth, driven by high occupancy and customer retention rates, he added. “We will continue to strengthen our asset portfolio and implement our expansion and growth strategy across key sectors and future-focused industries, creating long-term, sustainable value for our shareholders.”
For the third quarter, revenue increased 12% to AED809 million compared to AED724 million in the previous year, driven primarily by a 35% rise in land lease revenue to AED202 million.
Quarterly commercial revenue grew 6% to AED390 million, while industrial asset revenue increased 11% to AED125 million.
Recurring net profit for the quarter rose 12% to AED417 million from AED373 million a year earlier. EBITDA increased 11% to AED627 million, with a margin of 78%.
TECOM Group, the owner and operator of 10 specialized business districts in Dubai, reported an 11% year-over-year (YoY) increase in revenue to AED2.3 billion for the first nine months of 2026, supported by growth across all leasing segments, portfolio expansion, and high occupancy rates of 97%.
Recurring net profit rose 10% to AED1.2 billion during the period.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to AED1.8 billion, up 11%. Its EBITDA margin stood at 79%.
Entrepreneur Middle East Staff
Entrepreneur Staff
