TECOM Group PJSC has reported a strong start to 2026, announcing a robust financial performance for the first quarter. The Group achieved revenues of AED755 million, marking an 11 percent year-on-year (YoY) increase, and saw a 12 percent jump in recurring net profit to AED403 million, compared to AED361 million in the same period of 2025.
EBITDA rose 13 percent YoY to AED610 million, with the EBITDA margin improving to 81 percent from 79 percent in Q1 2025. This impressive growth was driven by higher occupancy, rental rate optimisation, and disciplined cost management.
The Group credited its resilient first quarter performance to strong demand across its specialised business districts and sustained momentum in its commercial and industrial portfolios. Strategic investments, consistently high occupancy rates, solid customer retention, and enhanced rental rates have all played major roles in bolstering the Group’s profitability.
Abdulla Belhoul, CEO of TECOM Group, stated, “The UAE and Dubai economies continue to demonstrate remarkable strength and resilience, driven by a proven ability to adapt swiftly to market dynamics. Our first quarter performance reflects the resilience of the Group’s business model, the diversification of our revenue base across our business segments, and our operational efficiency.”
He highlighted that the commercial and industrial portfolios maintained high resilience, with occupancy reaching 98 percent across both segments. Customer retention remained robust, standing at 94 percent for the commercial portfolio and 99 percent for the industrial portfolio.
Funds from Operations (FFO) climbed 14 percent YoY to AED549 million, underlining the high quality and resilience of Group revenue streams. This solid financial footing was supported by a strong, diversified customer base and efficient collections, further strengthening the Group’s liquidity.
Operational highlights for Q1 2026 included Dubai Media City commemorating its 25th anniversary as a leader in creative industries, while Dubai Industrial City accentuated its expanding global Food and Beverage (F&B) ecosystem and showcased emerging food innovators at Gulfood 2026.
Dubai Science Park marked twenty years of supporting science and nurturing the region’s research & development (R&D) ecosystem. Additionally, the combined student body across Dubai International Academic City and Dubai Knowledge Park grew to over 38,500 by the end of the 2024-25 academic year, a 15 percent increase since the previous academic year.
In industrial expansion, ALAS Emirates Ready Mix announced plans for a state-of-the-art facility in Dubai Industrial City, and AmSpec Group inaugurated its new Agri & Food laboratory in Dubai Science Park.
Team V.4-EM-UAE
