Dubai-based real estate developer TECOM Group PJSC has announced a 21 percent year-on-year increase in revenues, reaching AED680 million ($185.1 million) for the first quarter of 2025. Additionally, net profit surged by 23 percent year-on-year to AED361 million ($98.3 million) during the same period. This remarkable performance underscores the strength of the Group’s diverse asset portfolio and the effectiveness of its long-term strategy focused on unlocking sustainable growth by capitalising on Dubai’s economic momentum, which enhances the city’s attractiveness as a global business and investment hub.
Abdulla Belhoul, chief executive officer of TECOM Group, stated, “Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai’s and the UAE’s knowledge economy as we attract global companies and world-class talent across six strategic sectors. Our impressive Q1 2025 performance reinforces TECOM Group’s leading role in curating Dubai’s most dynamic and pro-growth business districts, as well as our strategic roadmap for sustainable growth. Reflecting Dubai’s rising profile as the destination of choice for global investors and entrepreneurial talent, these results highlight how our ecosystems are powering growth in the city’s priority economic sectors to create long-term shareholder value.”
Q1 2025 financial highlights showcase strong growth
The Group’s robust performance across all business segments, combined with its strategic roadmap for expansion and sustainable growth, resulted in revenues of AED680 million, representing a 21 percent year-on-year increase. Reflecting this revenue growth and enhanced operational performance, EBITDA rose by 23 percent year-on-year to AED540 million, with the EBITDA margin growing to 79 percent. Net profit also increased by 23 percent year-on-year to AED361 million, while funds from operations (FFO) experienced a 16 percent year-on-year growth, reaching AED480 million due to improved collections and the strong performance of income-generating assets.
Read more: TECOM Group shareholders approve $109 million cash dividend for H2 2024
Key operational activities highlight industry advancements
Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February, showcasing the company’s commitment to innovation and sustainability. This centre will provide local insights to Epson’s global teams for the development of next-generation technologies. Dubai Internet City revealed its significant contribution to 65 percent of Dubai’s tech sector GDP as part of the Dubai Internet City – Impact Assessment study, conducted in partnership with Accenture and launched during Step Dubai, where the district served as a Strategic Partner in February.
In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE’s nuclear and sustainable energy sectors. Additionally, Dubai Industrial City attracted over AED350 million in investments from food and beverage customers in 2024, announced during the landmark 30th edition of Gulfood, the world’s largest annual F&B sourcing event, held in February.
Dubai Science Park welcomed biopharmaceutical giant MSD in January, strengthening its regional commitment with the launch of a new office focused on co-creating health and well-being solutions. The park also hosted the Middle East’s first Longevity Science Semester Symposium in February, promoting advancements in healthcare innovation. Meanwhile, Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai’s status as a global fashion destination.
TECOM Group also launched the third edition of The Good Store in partnership with Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of over 137,000 professionals across Dubai.
