TECOM Group reported a 9 percent rise in first-half recurring net profit as strong demand for commercial, industrial and land lease assets lifted occupancy and rental rates across its business districts.
Recurring net profit rose to AED805 million in the first six months of 2026, while revenue increased 11 percent year-on-year to more than AED1.5 billion.
The company said occupancy across its portfolio improved to 97 percent, supported by higher rental rates and contributions from portfolio expansion.
EBITDA rose 10 percent to more than AED1.2 billion, representing a margin of 79 percent, while funds from operations increased 12 percent to AED1.1 billion.
The board approved an interim cash dividend of AED440 million for the first half, reflecting its commitment to shareholder returns.
Chairman Malek Al Malek said the results demonstrated the resilience of the group’s business model and its ability to benefit from growth across Dubai’s key economic sectors.
Chief Executive Abdulla Belhoul said sustained demand and high customer retention reinforced the group’s business districts as preferred locations for regional and international companies.
Commercial portfolio revenue rose 11 percent to AED783 million, supported by 96 percent occupancy and a 94 percent customer retention rate.
Industrial assets posted 15 percent revenue growth to AED239 million, while land lease revenue increased 22 percent to AED361 million on continued demand and leases of newly acquired land.
During the period, Hisense opened its Middle East and Africa headquarters in Dubai Internet City, MedLab Training Institute expanded in Dubai Science Park, and AJ Al Asmawi Group signed an agreement to develop one of the UAE’s first oil rig manufacturing and refurbishment facilities in Dubai Industrial City.
For the second quarter alone, revenue increased 11 percent to AED786 million, while recurring net profit rose 7 percent to AED401 million.
