TECOM Group launches $167.6m Innovation Hub Phase 4 in Dubai Internet City

Dubai, United Arab Emirates: TECOM Group PJSC (TECOM Group), a UAE-based developer of specialised business districts and vibrant communities, has launched Phase 4 of Innovation Hub at Dubai Internet City, responding to rising demand for Grade-A office space from global multinational companies operating across future-focused economic sectors.

With a gross leasable area of 263,000 sq ft, the development represents an investment of USD 167.6 million (AED 615 million) and marks the fourth phase of Innovation Hub, further strengthening Dubai Internet City’s position as the region’s leading technology hub.

Expanding a flagship commercial development

The launch of Innovation Hub Phase 4 aligns with TECOM Group’s strategic growth plan and increases the Group’s total investment in the Innovation Hub project at Dubai Internet City to USD 544 million (AED 2 billion). The announcement follows the strong performance of previous phases, with Phase 3 fully leased ahead of its scheduled completion in 2027.

Phase 2 of Innovation Hub has also been completed and fully leased to Fortune 500 companies and digital economy leaders, while Phase 1 continues to serve as the foundation of the project, attracting global technology businesses including Google and Gartner.

Upon completion in 2028, Phase 4 will further enhance TECOM Group’s portfolio of Grade-A commercial assets, supporting both new and existing technology customers amid sustained demand for premium office space driven by national and emirate-level economic strategies.

Supporting future-focused economic growth

“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. “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.”

Strong financial performance underpins expansion

TECOM Group will finance the development using existing resources, while maintaining a healthy leverage and liquidity position. The project follows a strong nine-month financial performance in 2025, supported by increased occupancy levels, higher rental rates, improved operational efficiencies and continued portfolio expansion.

During the first nine months of the year, the Group reported revenues exceeding USD 572 million (AED 2.1 billion), representing 20 percent year-on-year growth, while net profit surpassed USD 300 million (AED 1.1 billion), an 18 percent year-on-year increase compared to the same period in 2024.

Dubai Internet City’s regional leadership

Established in 1999, Dubai Internet City, part of TECOM Group, has evolved into the region’s largest technology hub, hosting multinational corporations, start-ups and Fortune 500 companies. The district contributes approximately 65 percent of Dubai’s technology GDP.

Its comprehensive ecosystem includes sector-specific infrastructure such as premium Grade-A office spaces and 20 research, development and innovation centres, reinforcing its role as a global destination for digital economy companies.

Dubai Internet City forms part of TECOM Group’s wider portfolio of sector-focused business districts, which 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.