UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

TECOM profit climbs

Funds from operations rose 14% to 549 million dirhams.
  • TECOM lifted recurring profit as occupancy, rental rates and cost discipline strengthened margins.
  • Commercial and industrial portfolios remained nearly full, supporting resilient cash flow and customer retention.

Dubai, UAE — TECOM Group reported an 11% rise in first-quarter revenue and a 12% increase in recurring net profit, driven by high occupancy across its commercial and industrial assets.

Revenue for the quarter reached 755 million dirhams ($205.6 million), while recurring net profit rose to 403 million dirhams from 361 million dirhams a year earlier.

EBITDA increased 13% to 610 million dirhams, with the margin expanding to 81% from 79%, supported by higher rental rates and disciplined cost management.

Funds from operations rose 14% to 549 million dirhams, reflecting resilient cash generation and efficient collections.

Chief Executive Abdulla Belhoul said the company’s diversified portfolio and operational efficiency underpinned its performance.

Occupancy remained at 98% across both commercial and industrial portfolios. Customer retention stood at 94% in commercial assets and 99% in industrial properties.

During the quarter, Dubai Media City marked its 25th anniversary, while Dubai Science Park and Dubai Industrial City continued to attract new tenants and investment.