DUBAI, 29th April, 2026 (WAM) — TECOM Group PJSC announced its financial results for the first quarter of 2026, delivering revenues of AED755 million, representing an 11 percent year-on-year (YoY) increase, alongside a 12 percent increase in recurring net profit 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, supported by higher occupancy, rental rate optimisation, and disciplined cost management.
The Group reported a resilient first quarter financial performance in 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, together with improved rental rates and disciplined cost management, have contributed to enhancing the Group’s profitability.
Abdulla Belhoul, CEO of TECOM Group, said, “The UAE and Dubai economies continue to demonstrate remarkable strength and resilience, driven by a 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 our 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 high quality and resilience of the Group’s revenue streams, supported by a strong and diversified customer base and efficient collections, ultimately strengthening liquidity.
In terms of Q1 2026 operational highlights, Dubai Media City marked its 25th anniversary of pioneering innovation and growth in the creative industries. Dubai Industrial City showcased its global Food and Beverage (F&B) ecosystem and spotlighted 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 (R&D) ecosystem. The student body across Dubai International Academic City and Dubai Knowledge Park grew to more than 38,500 at the end of the 2024-25 academic year, marking 15 percent growth since the end of the 2023-24 academic year.
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.
Source: Emirates News Agency