TECOM Group launches $167.5mn Innovation Hub Phase 4

TECOM Group has launched Phase 4 of Innovation Hub in Dubai Internet City to address rising demand for Grade-A office spaces from global multinational companies.

Phase 4 will be an AED615 million (US$167.5 million) development, with a gross leasable area (GLA) of 263,000 square feet. It follows the success of the third phase development, which was fully leased ahead of its scheduled completion in 2027.

The second phase of Innovation Hub is also complete and fully leased to Fortune 500 companies and digital economy leaders, while Phase 1 serves as the cornerstone for launching the project, and is home for such global technology businesses as Google and Gartner.

The launch of Innovation Hub Phase 4 raises TECOM Group’s total investments in the Innovation Hub project in Dubai Internet City to AED2 billion (US$540 million).

“The launch of Innovation Hub Phase 4 reflects TECOM Group’s ongoing commitment to supporting vital future-focused economic activity in the UAE and Dubai,” said Abdulla Belhoul, Chief Executive Officer of TECOM Group.

“The UAE’s and Dubai’s globally renowned pro-business framework, coupled with visionary strategies such as the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33’, continue to highlight our nation’s ability to attract future-focused innovators and investors.

“This strategic development further enhances Dubai Internet City’s empowering role in the technology sector, ensuring it is well-positioned to serve the evolving needs of the digital economy.

“Our healthy liquidity and strategic roadmap for sustainable growth ensure we are well-placed to capitalise on favourable market dynamics, and we will continue to expand TECOM Group’s portfolio in high-growth sectors that promote innovation to deliver long-term value for our shareholders.”

The Group will utilise its existing resources to finance the development of the fourth phase of Innovation Hub while ensuring it maintains a healthy leverage and liquidity position.

The development follows TECOM Group’s strong nine-month financial performance in 2025, led by increased occupancy, higher rental rates, improved efficiencies, and continued portfolio expansion. The Group reported revenues of more than AED2.1 billion (US$570 million), representing 20 per cent year-on-year growth, and net profit exceeding AED1.1 billion (US$300 million), which was up 18 per cent.