TECOM Group PJSC, the master developer behind Dubai’s leading business districts, is moving forward with Phase 4 of the Innovation Hub at Dubai Internet City, committing $167.4 million to meet rising demand for premium Grade-A office space from global technology companies.
The new phase will deliver 263,000 square feet of gross leasable area, reinforcing Dubai Internet City’s position as the region’s flagship innovation ecosystem. With this expansion, TECOM Group’s cumulative investment in the Innovation Hub will reach $544.5 million, according to figures shared by Emirates News Agency.
Momentum across earlier phases remains strong. Phase 3 is already fully leased, despite its scheduled completion in 2027, while Phase 2 is fully occupied by Fortune 500 corporations and digital economy leaders. Phase 1 continues to host global names such as Google and Gartner, cementing the Innovation Hub’s reputation as a gateway for multinational tech firms entering the Middle East.
Expected to be completed in 2028, Phase 4 will further strengthen TECOM Group’s portfolio of high-quality commercial assets, supporting the needs of Dubai’s rapidly expanding digital economy.
Commenting on the development, Abdulla Belhoul, CEO of TECOM Group, said the launch reflects the company’s long-term commitment to enabling future-focused economic growth in the UAE. He highlighted the country’s pro-business environment and strategic initiatives such as the UAE Digital Economy Strategy and Dubai Economic Agenda D33 as key drivers attracting global innovators and investors.
Belhoul added that the Group’s strong liquidity and disciplined growth strategy position it well to capitalize on favorable market conditions, with continued expansion planned across high-growth sectors that drive innovation and long-term shareholder value.
TECOM Group confirmed that the project will be self-financed, preserving a robust liquidity position. The announcement follows a strong 2025 financial performance, with revenues exceeding $571.8 million, representing 20% year-on-year growth, while net profit rose 18% compared to 2024.
As Dubai accelerates its innovation-led growth agenda, TECOM Group’s latest investment highlights how strategic real estate development is evolving to underpin the city’s ambition to become a global hub for technology, entrepreneurship, and the digital economy.
