The Dubai government has confirmed through its official Twitter handle that the Tecom Group will list on the Dubai Financial Market (DFM).
Tecom is said to have 10 business communities that offer infrastructure, regulations, and a support network to help businesses set up operations.
These business communities include Dubai Internet City, Dubai Media City, Dubai Design District, and Dubai Industrial Park.
The listing is said to be a part of the strategy of the Dubai Securities and Exchange Higher Committee, chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai, to increase the size of the stock market in the emirate to AED3 trillion.
Dubai announced in November the listing of 10 government and state-owned companies on the DFM as part of accelerating new listings in various sectors including energy, logistics and retail.
It also announced that it would list the utility Dubai Electricity and Water Authority (DEWA) in “coming months”.
Meanwhile, the Dubai Securities and Exchange Higher Committee announced last month its intention to list the city’s toll road system, Salik, on DFM as well.
The Salik system is one of Dubai’s leading infrastructure assets, and was introduced by the Roads and Transport Authority in 2007.