Tecom profit tops Dh1.1 billion, revenues jump 20%

Dubai: Tecom Group’s nine-month revenue rose 20% year-on-year to more than Dh2.1 billion, supported by acquisitions, higher lease rates and near-full utilisation across key districts. Net profit increased 18% to over Dh1.1 billion, helped by operational efficiencies and disciplined capital deployment.

Occupancy across Tecom’s commercial and industrial portfolio climbed to 96%, up two percentage points from a year earlier. Land occupancy reached 98%, reflecting consistent appetite for Grade-A offices, logistics facilities and industrial plots as Dubai continues to draw foreign investors and large corporates.

EBITDA rose 20% to Dh1.7 billion, yielding a margin of 79%. Funds from operations reached Dh1.5 billion, up 16% from a year earlier, driven by stronger recurring income and continued improvement in collections.

Revenue for the third quarter increased 19% year-on-year to Dh724 million. EBITDA rose 13% to Dh563 million, with a margin of 78%. Net profit stood at Dh373 million, up 10% from Q3 2024, supported by growth in lease rates and cost management.

Investment momentum remained strong. In August, Tecom completed a Dh1.6 billion acquisition of 138 land plots spanning 33 million square feet in Dubai Industrial City. The deal expands the Group’s land bank to more than 209 million square feet and aligns with growing demand from manufacturers and logistics firms tied to national industrial strategies.

The purchase forms part of Dh4.3 billion in strategic investments made since last year. The Group said the expansion strengthens its ability to serve customers as the UAE’s industrial sector scales under federal initiatives including Operation 300bn, Make it in the Emirates and Dubai’s D33 agenda.

Tecom also completed its previously announced three-year dividend programme, paying Dh400 million for the first half of 2025. The final instalment brings total distributions since listing in 2022 to Dh2.4 billion.

The Group said it remains focused on long-term value creation through disciplined expansion, portfolio quality and sustained demand from global and regional occupiers.