TECOM Group PJSC opened 2026 on a high note, posting revenues of AED755 million in Q1, an 11 percent year-on-year increase, as high occupancy rates, stronger rental yields and disciplined cost management continued to drive profitability across its specialised business districts.
EBITDA rose 13 percent to AED610 million, pushing margins to 81 percent from 79 percent a year earlier. Recurring net profit climbed 12 percent to AED403 million, up from AED361 million in Q1 2025, while Funds from Operations grew 14 percent to AED549 million, reflecting the durability of the group's revenue streams.
CEO Abdulla Belhoul attributed the performance to the broader strength of the UAE and Dubai economies.
"Our first quarter performance reflects the resilience of the Group's business model, the diversification of our revenue base across our business segments, and our operational efficiency,"
he said.
Operationally, both the commercial and industrial portfolios held occupancy at 98 percent. Customer retention reached 94 percent in the commercial segment and 99 percent in the industrial segment — figures that underscore the group's ability to retain and grow its tenant base in a competitive market.
On the ground, Dubai Media City marked its 25th anniversary, while Dubai Science Park celebrated two decades of supporting regional research and development. Student enrolment across Dubai International Academic City and Dubai Knowledge Park surpassed 38,500 by the end of the 2024-25 academic year, representing 15 percent growth over the prior year.
Dubai Industrial City also made waves at Gulfood 2026, highlighting its food and beverage ecosystem, as ALAS Emirates Ready Mix announced plans for a new facility within the district and AmSpec Group launched an Agri and Food laboratory at Dubai Science Park.
News Source: Emirates News Agency
