TECOM GROUP P.J.S.C.
About TECOM GROUP P.J.S.C.
TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub.
The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses and land – to over 10,000 customers and more than 105,000 professionals.
TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience.
TECOM Group also provides industry specialised facilities, including media production studios, laboratories and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “GoFreelance” package serves freelance talents.
Latest Pressrelease Summaries from TECOM GROUP P.J.S.C.
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TECOM Group has reported a 20% year-on-year (YoY) increase in net profit for the first nine months of 2023, reaching AED 768 million ($209 million). Revenues rose by 7% YoY to AED 1.6 billion, driven by high occupancy levels across the company's portfolio. EBITDA increased by 14% YoY to AED 1.2 billion, with the EBITDA margin expanding to 78%. The company's Q3 2023 net profit also rose by 34% YoY to AED 283 million. TECOM Group has announced plans to develop new storage and logistics facilities in Dubai Science Park.
The document is a review report and condensed interim consolidated financial statements of TECOM Group PJSC and its subsidiaries. It covers the financial performance and activities of the company for the nine-month period ending on 30th September 2023.
On 31 October 2023, the Board of Directors of TECOM Group PJSC held a meeting where they reviewed and approved the Condensed Interim Consolidated Financial Statements for the nine-month period ending on 30 September 2023. They also discussed regular matters and other business-related topics. The information was disclosed in a letter to Mr. Hamad Ali, the CEO of Dubai Financial Market.