TECOM group delivers double‑digit revenue and profit growth in Q1 2026
Dubai developer reports AED 755 million revenue, 81% EBITDA margin, and strong occupancy across commercial and industrial portfolios
Dubai: TECOM Group PJSC announced its financial results for the first quarter of 2026, reporting revenues of AED755 million, representing an 11 percent year‑on‑year (YoY) increase. Recurring net profit rose 12 percent YoY to AED403 million, compared to AED361 million in Q1 2025.
EBITDA increased 13 percent YoY to AED610 million, delivering an 81 percent margin, compared to 79 percent in Q1 2025. This performance was supported by higher occupancy, rental rate optimisation, and disciplined cost management.
The Group delivered a resilient financial performance in the first quarter of 2026, driven by strong demand across its specialised business districts and continued growth in its commercial and industrial portfolios. Strategic investments, high occupancy rates, and solid customer retention—combined with improved rental rates and cost discipline—continued to enhance profitability.
Abdulla Belhoul, CEO of TECOM Group, said: “The UAE and Dubai economies continue to demonstrate remarkable strength and resilience, driven by their 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 business segments, and our operational efficiency.”
He added that the commercial and industrial portfolios remained highly resilient, with occupancy at 98 percent across both segments. Customer retention remained strong at 94 percent for the commercial portfolio and 99 percent for the industrial portfolio.
Funds from Operations (FFO) increased 14 percent YoY to AED549 million, demonstrating the quality and resilience of the Group’s revenue streams. This performance was supported by a strong and diversified customer base and efficient collections, further strengthening liquidity.
Key operational highlights in Q1 2026 included Dubai Media City marking its 25th anniversary of driving innovation and growth in the creative industries. Dubai Industrial City showcased its global food and beverage ecosystem and highlighted the next generation of food innovators at Gulfood 2026.
Dubai Science Park celebrated two decades of enabling science and nurturing the region’s research and development ecosystem. Meanwhile, the combined student population across Dubai International Academic City and Dubai Knowledge Park exceeded 38,500 at the end of the 2024–25 academic year, reflecting 15 percent growth compared to the end of the 2023–24 academic year.
Additionally, ALAS Emirates Ready Mix announced plans to launch a state‑of‑the‑art facility in Dubai Industrial City, while AmSpec Group opened its new Agri & Food laboratory at Dubai Science Park.