TECOM Group Launches Phase 4 of Innovation Hub at Dubai Internet City
The new phase responds to rising demand from global multinational companies for Grade-A office spaces in future-focused economic sectors.
TECOM Group PJSC has announced the launch of Phase 4 of Innovation Hub at Dubai Internet City, reinforcing its role in advancing the UAE’s digital economy in line with the UAE Digital Economy Strategy and Dubai Economic Agenda ‘D33’. The new phase responds to rising demand from global multinational companies for Grade-A office spaces in future-focused economic sectors.
Valued at AED 615 million, Innovation Hub Phase 4 will deliver a gross leasable area of 263,000 square feet and brings TECOM Group’s total investment in the Innovation Hub project to AED 2 billion. The development strengthens Dubai Internet City’s position as the region’s leading technology hub and forms part of TECOM Group’s broader strategic expansion plan aimed at creating sustainable long-term value for shareholders.
The launch follows strong demand for earlier phases of the Innovation Hub. Phase 3 was fully leased ahead of its scheduled completion in 2027, while Phase 2 has already been completed and leased to Fortune 500 companies and digital economy leaders. Phase 1 remains a cornerstone of the project and continues to host major global technology firms, including Google and Gartner.
Upon completion in 2028, Phase 4 will further enhance TECOM Group’s portfolio of Grade-A commercial assets, enabling it to better serve both existing and new technology tenants. The project is being financed through the Group’s existing resources, while maintaining healthy leverage and liquidity levels.
The development builds on TECOM Group’s strong financial performance in the first nine months of 2025, driven by increased occupancy, higher rental rates, improved operational efficiencies, and ongoing portfolio expansion. During the period, the Group reported revenues exceeding AED 2.1 billion, representing 20 per cent year-on-year growth, while net profit rose to more than AED 1.1 billion, an increase of 18 per cent compared to the same period in 2024.
Established in 1999, Dubai Internet City has evolved into the region’s largest technology hub and is home to multinational companies, start-ups, and Fortune 500 firms, contributing approximately 65 per cent of Dubai’s technology GDP. It forms part of TECOM Group’s wider portfolio of specialised business districts across Dubai, supporting innovation and growth across multiple sectors of the economy.
