TECOM Group PJSC has launched Phase 4 of Innovation Hub in Dubai Internet City, committing AED615 million to expand Grade-A office capacity as global technology firms drive rising demand for premium workspaces in Dubai.
The new phase adds 263,000 square feet of gross leasable area and reinforces Dubai Internet City’s position as the region’s leading technology hub. It brings TECOM Group’s total investment in the Innovation Hub development to AED2 billion, aligning with the group’s long-term growth strategy and Dubai’s broader digital economy ambitions.
The announcement follows strong demand across earlier phases of the project. Innovation Hub Phase 3 was fully leased ahead of its scheduled completion in 2027, while Phase 2 is complete and fully occupied by Fortune 500 companies and digital economy leaders. Phase 1 remains home to global technology names including Google and Gartner.
Phase 4 is scheduled for completion in 2028 and is designed to support both new and existing tenants seeking high-quality commercial space. Demand for such assets continues to be driven by national initiatives such as the UAE Digital Economy Strategy and the Dubai Economic Agenda D33.
Chief Executive Officer Abdulla Belhoul said the development reflects TECOM Group’s commitment to enabling future-focused economic activity and supporting the evolving needs of the digital economy. He added that the group’s strong liquidity and disciplined growth roadmap position it well to capitalise on favourable market conditions.
The project will be financed using existing resources. The launch follows a robust nine-month financial performance in 2025, with revenues exceeding AED2.1 billion and net profit surpassing AED1.1 billion, driven by higher occupancy, rental growth, and portfolio expansion.
News Source: Emirates News Agency
