Dubai Business Group Reports Profit Increase in Q1

Tecom Group, a major player in Dubai's commercial real estate sector, announced a net profit of Dh360.8 million for the first quarter of 2025, a significant increase from Dh292.5 million in the same period the previous year. This growth reflects the sustained demand for office, warehousing, and industrial spaces within the emirate. The company's strategic expansion plan boosted revenues to Dh680 million, marking a 21% year-on-year increase.

Key drivers of Tecom's success include strong performance in its economic zones. Dubai Industrial City continues to attract substantial tenant investments, while Dubai Design District (d3) is undergoing expansion. Tecom's customer base grew by 6% to over 12,000 entities in Q1-2025, fueled by high demand for commercial, industrial, and land lease assets.

Tecom is actively investing in new developments to enhance its offerings. In d3, six new Grade A buildings are planned, adding over 500,000 square feet of leasable area by the first half of 2028. This expansion aims to solidify d3 as a global hub for creative professionals, with an Dh825 million investment confirmed in August. Dubai Industrial City also saw over Dh350 million in investments from F&B businesses in 2024.

Abdulla Belhoul, CEO of Tecom Group, highlighted that the Q1-2025 results demonstrate how the company's ecosystems are driving growth in Dubai's key economic sectors. He emphasized Tecom's leading role in developing dynamic business districts and its commitment to sustainable growth. On the Dubai Financial Market (DFM), Tecom's stock is currently trading at Dh3.09, with a 52-week high of Dh3.4.