TECOM Group investors set for Dh440 million payout after profit rises 9%

Dubai: TECOM Group will distribute an interim cash dividend of Dh440 million after recurring net profit increased 9% to Dh805 million during the first half of 2026.

The dividend is expected to be paid in August and follows a 12% increase in funds from operations to Dh1.1 billion, supported by higher occupancy, improved rental rates and contributions from the group’s expanded property portfolio.

Revenue rose 11% from a year earlier to more than Dh1.5 billion, while earnings before interest, tax, depreciation and amortisation increased 10% to above Dh1.2 billion. The EBITDA margin stood at 79%.

Occupancy across TECOM Group’s commercial and industrial portfolios reached 97% during the first half, supported by continued demand for offices, manufacturing space, logistics facilities and land leases.

Commercial portfolio revenue increased 11% to Dh783 million, supported by demand for Grade-A offices. The portfolio recorded an occupancy rate of 96% and a customer retention rate of 94%.

Industrial asset revenue rose 15% to Dh239 million, with occupancy reaching 98% and customer retention standing at 99%. TECOM attributed the performance to demand from manufacturing and logistics customers.

Land lease revenue climbed 22% to Dh361 million, helped by demand and the leasing of land acquired during 2025.

Second-quarter revenue increased 11% to Dh786 million, supported by rental rates, occupancy levels and portfolio expansion.

Quarterly EBITDA rose 8% to Dh613 million, with the margin reaching 78%. Recurring net profit increased 7% to Dh401 million.