Net profits "Tecom" It exceeds 1.1 billion dirhams during the first 9 months
Dubai, 31 October / WAM / TECOM Group, listed on the Dubai Financial Market under the symbol “TECOM”, announced achieving strong financial and operational performance during the first nine months of this year, as its net profits exceeded 1.1 billion dirhams, an increase of 18% year-on-year, while revenues increased by 20% to reach more than 2.1 billion dirhams, driven by high occupancy rates, average rents, and the expansion of its portfolio of commercial and industrial assets.
Earnings before interest, taxes, depreciation and amortization recorded a growth of 20% to reach 1.7 billion dirhams, with a profit margin of 79%, while cash flows from operations increased by 16% to reach 1.5 billion dirhams, which reflects the group’s balanced performance and its ability to enhance operational efficiency and sustain growth.
Abdullah Belhoul, CEO of TECOM Group, said that the strong results reflect the group’s flexibility and its ability to keep pace with favorable market conditions and achieve added value for its customers, noting that its expansion plan, which amounts to 4.3 billion dirhams since last year, has contributed to enhancing demand for its high-quality assets.
He added that the group’s performance embodies its pivotal role in supporting the competitiveness of the business sector in Dubai and its attractiveness to global investments, stressing the continuation of work to achieve sustainable value for shareholders, while the third quarter of the year witnessed recording revenues of 724 million dirhams, an increase of 19%, and net profits amounting to 373 million dirhams, an increase of 10% on an annual basis.
The group also announced an investment of 1.6 billion dirhams to acquire 138 industrial plots of land in Dubai Industrial City, with an area of 33 million square feet, as part of an expansion plan that raises the total land portfolio to more than 209 million square feet, thus enhancing Dubai’s industrial position as a major destination for the manufacturing and logistics sectors.
The group confirmed its commitment to the annual dividend policy of 800 million dirhams, after implementing its last payment of 400 million dirhams for the first half of 2025, bringing the total cash distributions to 2.4 billion dirhams over the past three years.
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