19/12/2025 03:31 AST
Tecom Group PJSC, the creator of specialised business districts and communities in Dubai, has launched Phase 4 of Innovation Hub in Dubai Internet City to address rising demand for Grade-A office spaces from global multinational companies in vital, future-focused economic sectors.
With a gross leasable area (GLA) of 263,000 sq.ft., the Dh615 million development represents the fourth phase of Innovation Hub and strengthens Dubai Internet City's position as the leading technology hub in the region. The launch of Innovation Hub Phase 4 supports Tecom Group's strategic growth plan and raises its total investments in the Innovation Hub project in Dubai Internet City to reach Dh2 billion.
The announcement follows the success of Innovation Hub's third phase development, which was fully leased ahead of its scheduled completion in 2027. The second phase of Innovation Hub is also complete and fully leased to Fortune 500 companies and digital economy leaders, while Phase 1 serves as the cornerstone for launching the project, which remains a leading destination for global technology businesses such as Google and Gartner.
The fourth phase of Innovation Hub will enhance Tecom Group's portfolio of Grade-A commercial assets, strengthening its ability to serve new and existing technology customers upon completion in 2028 and amid rising demand for premium office spaces driven by leading national strategies.
"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, Chief Executive Officer of Tecom Group PJSC. "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. This strategic development further enhances Dubai Internet City's empowering role in the technology sector, ensuring it is well-positioned to serve the evolving needs of the digital economy.
"Our healthy liquidity and strategic roadmap for sustainable growth ensure we are well-placed to capitalise on favourable market dynamics, and we will continue to expand Tecom Group's portfolio in high-growth sectors that promote innovation to deliver long-term value for our shareholders."
The Group will utilise its existing resources to finance the development while ensuring it maintains a healthy leverage and liquidity position. The development follows Tecom Group's strong nine-month financial performance in 2025, led by increased occupancy, higher rental rates, improved efficiencies, and continued portfolio expansion. The Group reported revenues of more than Dh2.1 billion, representing 20 per cent year-on-year (YoY) growth during the first nine months of the year, with net profit exceeding Dh1.1 billion (+18 per cent YoY) compared to the same period in 2024.
Established in 1999, Dubai Internet City, part of Tecom Group, has developed into the region's largest hub for technology innovators and as the home of multinational companies, start-ups, and Fortune 500 companies, contributes towards 65 per cent of Dubai's tech GDP. The district's comprehensive ecosystem, comprising sector-specific infrastructure such as premium Grade-A offices and 20 Research and Development and Innovation Centres, has solidified its position as a uniting hub for digital economy companies from around the world.
Dubai Internet City is part of Tecom Group's portfolio of sector-specific business districts, which also includes Dubai Media City, Dubai Production City, Dubai Studio City, Dubai International Academic City, Dubai Knowledge Park, Dubai Science Park, Dubai Design District (d3), and Dubai Industrial City.
Khaleej Times
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