TECOM Group’s 9-month shows 20% revenue growth

TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.

Occupancy across the Group’s Commercial and Industrial portfolio grew by 2 per cent year-on-year to 96 per cent, while Land occupancy increased 8 per cent year-on-year to 98 per cent, reflecting strong demand for the Group’s portfolio, including Grade-A offices, storage and logistics facilities, and land for industrial leasing as Dubai attracts global investor interest.

EBITDA increased by 20 per cent year-on-year to AED 1.7 billion, with EBITDA margin at 79 per cent, attributed to improved revenue quality and cost efficiencies and reflective of the Group’s ability to maintain sustainable business growth. Net profit grew by 18 per cent year-on-year to more than AED 1.1 billion, driven by operational optimisation and efficient capital management across all business segments.

Funds from operations (FFO) increased to AED 1.5 billion, marking year on year growth of 16 per cent, led by enhanced performance from income-generating assets, continued improvement in revenue quality, and consistent collections.