TECOM Group PJSC has launched Phase 4 of Innovation Hub in Dubai Internet City, a development valued at AED615 million that will provide 263,000 square feet of office space.
The project targets multinational companies in technology and digital economy sectors. Completion is scheduled for 2028.
The launch brings TECOM Group’s investment in the Innovation Hub project to AED2 billion. The company will finance the development using existing resources while maintaining its leverage and liquidity position.
TECOM Group announces Innovation Hub Phase 4 launch with 2028 completion target
Phase 3 of Innovation Hub was fully leased before its planned completion in 2027. Phase 2 is complete and fully leased to Fortune 500 companies and digital economy operators. Phase 1 houses technology businesses including Google and Gartner.
“The launch of Innovation Hub Phase 4 reflects TECOM Group’s ongoing commitment to supporting vital future-focused economic activity in the UAE and Dubai. The UAE’s and Dubai’s globally renowned pro-business framework, coupled with visionary strategies such as the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33’, continue to highlight our nation’s ability to attract future-focused innovators and investors. This strategic development further enhances Dubai Internet City’s empowering role in the technology sector, ensuring it is well-positioned to serve the evolving needs of the digital economy,” Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC said in a statement.
“Our healthy liquidity and strategic roadmap for sustainable growth ensure we are well-placed to capitalise on favourable market dynamics, and we will continue to expand TECOM Group’s portfolio in high-growth sectors that promote innovation to deliver long-term value for our shareholders,” Belhoul added.
TECOM Group reported revenues exceeding AED2.1 billion in the first nine months of 2025, representing 20 per cent growth compared to the same period in 2024. Net profit exceeded AED1.1 billion, an 18 per cent increase year-on-year.
The results were driven by increased occupancy, higher rental rates, improved efficiencies, and portfolio expansion.
Dubai Internet City Innovation Hub Phase 4 Launch Follows Phase 3 Lease Success
Dubai Internet City was established in 1999 and operates as part of TECOM Group. The district houses multinational companies, start-ups, and Fortune 500 companies.
The hub contributes 65% of Dubai’s technology GDP. Infrastructure includes office spaces and 20 Research and Development and Innovation Centres.
Dubai Internet City forms part of TECOM Group’s portfolio of business districts, which includes Dubai Media City, Dubai Production City, Dubai Studio City, Dubai International Academic City, Dubai Knowledge Park, Dubai Science Park, Dubai Design District (d3), and Dubai Industrial City.
