TECOM Group PJSC posted a 22 per cent year-on-year rise in first-half net profit to AED 737 million ($201 million), as revenue climbed 21 per cent to AED 1.4 billion on strong demand for commercial and industrial space and income from strategic asset acquisitions.
EBITDA grew 24 per cent to AED 1.1 billion, with the margin improving to 80 per cent. Funds from operations increased 17 per cent to AED 984 million. Occupancy in commercial and industrial properties reached 95 per cent, while land lease occupancy rose to 99 per cent.
TECOM reports strong H1 2025 growth
Malek Al Malek, Chairman of TECOM Group, said: “The UAE and Dubai are continuing their journey of sustainable development, achieving record growth and exceptional accomplishments across all economic sectors.”
He added: “Their success is positively reflected in TECOM Group’s H1 2025 performance, demonstrating our fundamental strengths and agility in addressing growing demand from the commercial and industrial market, while focusing on operational efficiency to create long-term value for our shareholders. The Board has approved an interim cash dividend of AED 400 million for H1 2025, aligned with our Dividend Policy.”
Chief Executive Officer Abdulla Belhoul said: “Our financial and operational growth in H1 2025 reflects the success of TECOM Group’s roadmap for long-term growth through our recent strategic investments and attracting new customers. The Group’s robust performance is a step forward in our journey to enable a sustainable future through our ecosystems, solidifying the UAE’s and Dubai’s appeal as a global destination for investment and the ease of doing business.”
For the second quarter, net profit increased 21 per cent to AED 377 million as revenue rose 22 per cent to AED 709 million.
Key developments during the first half included PayPal opening its first regional headquarters at Dubai Internet City, an AED 80 million Pure Ice Cream plant at Dubai Industrial City, and an expansion of LEED-certified buildings to 55.
The group also received Shari’a compliance certification and recorded 8 GWh of renewable energy output from its solar initiatives.
