Tecom first-quarter revenue tops $200m with high occupancy
Tecom Group, the developer and operator of business parks and free zones in Dubai, said revenues grew in the first quarter of 2026, as demand across its business districts remained strong.
Revenue increased 11 percent year on year to AED755 million ($206 million) in the quarter, the company said in a statement to the Dubai Financial Market on Wednesday.
The topline was driven by portfolio expansion through acquisitions and development projects completed last year, as well as higher occupancy and improved rental rates across the portfolio.
Occupancy in commercial and industrial portfolios was 98 percent. Customer retention remained strong at 94 percent for the commercial portfolio and 99 percent for the industrial portfolio.
Tecom said net profit grew 12 percent annually to AED403 million, supported by new investments.
Tecom operates 10 business districts in the emirate, including Dubai Media City and Dubai Internet City.
The company’s shares closed 1.8 percent lower at AED3.33 on Tuesday. The stock has gained nearly 5 percent so far this year.
Dubai Holding Asset Management holds 86 percent of Tecom.
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