DUBAI, 29th October, 2026 (WAM) -- TECOM Group PJSC (DFM: TECOM), the owner and operator of 10 specialised business districts in Dubai, announced its financial results for the nine months (9M) and the third quarter (Q3) ended 30 September 2026.
The Group reported a 10% year-on-year (YoY) increase in recurring net profit to AED 1.2 billion for the nine-month period, with an 11% YoY rise in revenue to AED 2.3 billion, supported by sustained demand for Grade-A assets, robust operational performance, strong customer retention, and strategic portfolio expansion.
The Group delivered sustained operational growth, with EBITDA for 9M 2026 increasing 11% YoY to AED 1.8 billion and maintaining a robust EBITDA margin of 79%, driven by topline growth and prudent financial management.
Abdulla Belhoul, Chief Executive Officer of TECOM Group, attributed the Group's strong performance during the first nine months of 2026 to the strength of its business model, underpinned by a diversified Grade-A commercial and industrial asset portfolio, as well as the role of strategic expansions undertaken by the Group in recent years in bolstering its financial performance and expanding its customer base.
He said: “Our financial and operational results for the first nine months of 2026 underscore the strong demand for our diversified portfolio and our ability to achieve balanced growth across all our asset classes. The expansion of our industrial land lease portfolio also contributed to accelerated Q3 revenue growth, driven by high occupancy and customer retention rates.
We will continue to strengthen our asset portfolio and implement our expansion and growth strategy across key sectors and future-focused industries, creating long-term, sustainable value for our shareholders.”
9M 2026 Financial Highlights
• The Group’s revenue in 9M 2026 grew 11% YoY to AED 2.3 billion, supported by high portfolio occupancy of 97%, the positive impact of our strategic asset portfolio expansion, and improved rental rates:
o Commercial assets delivered 10% YoY revenue growth to AED 1.2 billion, supported by sustained demand for Grade-A offices and an increase in leasable area, with occupancy and customer retention remaining high at 95% and 93%, respectively.
o Revenue from Industrial assets revenue grew 13% YoY to AED 365 million, as occupancy reached 98% and customer retention stood at 97%, reflecting continued demand from leading manufacturing and logistics customers.
o Land Lease portfolio generated a 26% YoY revenue surge to AED 563 million, driven by continued strong demand and contributions from expansion.
• EBITDA increased 11% YoY to AED 1.8 billion, maintaining a high 79% EBITDA margin and demonstrating the Group’s ability to translate sustained revenue growth into strong operational profitability.
• Recurring net profit rose 10% YoY to AED 1.2 billion, underpinned by operational excellence and prudent financial management.
• Funds from Operations (FFO) increased 11% YoY to AED 1.6 billion, reflecting a strong cash conversion ratio and efficient collection processes.
• Customer retention rate increased to 95% compared to 93% during the same period in 2025, reflecting customers' strong confidence and the appeal of the Group's integrated business ecosystems in meeting their evolving needs.
Q3 2026 Financial Highlights
• Revenue increased 12% YoY to AED 809 million (compared to AED 724 million in Q3 2025), driven primarily by a 35% increase in revenue within the Land Lease portfolio.
o Commercial portfolio revenue increased 6% YoY to AED 390 million.
o Industrial asset revenue grew 11% YoY to AED 125 million.
o Land Lease portfolio revenue expanded 35% YoY to AED 202 million.
• EBITDA rose 11% YoY to AED 627 million, delivering a robust quarterly EBITDA margin of 78%.
• Recurring net profit climbed 12% YoY to AED 417 million (compared to AED 373 million in Q3 2025).
• Combined Commercial and Industrial portfolio occupancy reached 97%, demonstrating sustained demand from leading international and regional customers across TECOM Group’s 10 business districts.
Q3 2026 Operational Highlights
• TECOM Group has earned Gold in the 2026 European Public Real Estate Association (EPRA) Best Practices Recommendations (BPR) Awards and Sustainability Best Practices Recommendations (sBPR) Awards. The achievement makes TECOM Group the first company in the region to hold EPRA Gold for both financial and sustainability reporting, and the only DFM-listed company to achieve this distinction.
• Dubai Internet City, the region’s leading technology hub, entered into a strategic partnership with Luxinnovation, Luxembourg’s national innovation agency, to drive innovation, foster cross-border collaboration, and support knowledge sharing.
• Dubai Science Park, the region’s leading science-focused ecosystem, convened the DSP Leadership Network Forum in partnership with Emirates Drug Establishment (EDE), bringing together leaders from government, healthcare and industry to discuss pharmaceutical resilience and innovation in the UAE.
• Talal Group, one of the UAE's most diversified business groups spanning retail, trading, food and beverage, manufacturing, and services, broke ground on a new Central Distribution Centre at Dubai Industrial City, the region’s leading manufacturing and logistics hub.