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.
