TECOM Group has completed the acquisition of new commercial and industrial assets as part of a plan which was announced in May 2024. In addition, the group plans to develop premium Grade-A office spaces at Dubai Internet City with the launch of Innovation Hub Phase 3, which will bring the firm’s investments in 2024 to more than US $544mn.
“The new strategic acquisitions and projects reflect TECOM Group’s vision of fostering sustainable growth. TECOM Group is committed to continuing its pivotal role in bolstering the UAE’s and Dubai’s knowledge-based economy and shaping the future of business through our world-class ecosystems that attract and empower globally renowned companies and talent across our 10 specialised business districts,” explained Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC.
He added, “Dubai is a globally renowned business and investment hub that offers attractive economic opportunities and robust business frameworks for local and international investors across myriad sectors. Underpinned by Dubai Economic Agenda ‘D33’, our business model is fostering an environment conducive to sustainable growth and excellence for the long term.”
The group said it has commenced the development of six Grade-A office buildings within Phase 2 of Dubai Design District (d3). The new development spans a gross floor area of 629,000sqft.
The development will feature office spaces with views of the Dubai skyline, including the Burj Khalifa. It is designed to meet the needs of TECOM Group’s existing and future clients, and will accommodate customer demand, including from global companies in the creative sectors. In addition to its sustainable buildings, the project will also include sports facilities, community spaces, parking, fine dining options, and surrounding residential developments. The vibrant hub will promote work-life balance within a dynamic community, the firm said.
Commenting on the launch, Belhoul noted, “Phase 2 of Dubai Design District (d3) is a landmark development that will significantly contribute to Dubai’s thriving design, fashion, and creative sectors. Spanning a GLA of more than 500,000sqft, this new office space will be built in line with LEED certification standards and is set for completion by H1 2028. It promises to deliver substantial long-term growth and further elevate our design sector’s infrastructure, enabling d3 to attract global talent and solidify Dubai’s position as a premier global centre for culture and creativity.”
TECOM Group also announced the launch of Grade-A offices at Dubai Internet City with its Innovation Hub Phase 3 development that will address the growing demand for commercial real estate in the city. Set for completion in mid-2027, Innovation Hub Phase 3 will offer premium office spaces and headquarters tailored to customer specifications across a GLA of more than 167,000sqft.
