In order to accommodate the growing demand from international IT companies, Tecom Group launched Phase 4 of its Innovation Hub in Dubai Internet City, a Dh615 million project that adds 263,000 square feet of Grade-A office space. The move solidifies the district’s position as the leading technological cluster in the Middle East, home to companies like Google and Gartner, and raises total hub investment to Dh2 billion.
Phase 1 anchored the ecosystem, while Phases 2 and 3 were fully leased by 2027. The completion date of 2028 is in line with Dubai’s D33 goal to attract innovators and the UAE Digital Economy Strategy.
“The launch of Innovation Hub Phase 4 reflects Tecom Group’s ongoing commitment to supporting vital future-focused economic activity in the UAE and Dubai,” said Abdulla Belhoul, CEO of Tecom Group. “The UAE’s and Dubai’s globally renowned pro-business framework, coupled with visionary strategies such as the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33’, continue to highlight our nation’s ability to attract future-focused innovators and investors.”
With 20% revenue growth to over Dh2.1 billion and an 18% increase in net profit to Dh1.1 billion in nine months through 2025, the project, which is financed by available resources, maintains strong leverage.
Launched in 1999, Dubai Internet City’s premium offices, 20 R&D facilities, and comprehensive ecosystem for startups and international corporations account for 65% of the emirate’s ICT GDP. Together with Dubai Media City, Production City, Studio City, International Academic City, Knowledge Park, Science Park, d3, and Industrial City, it serves as the cornerstone of Tecom’s portfolio.