TECOM Group has unveiled Phase 4 of its Innovation Hub development at Dubai Internet City, expanding the district’s supply of Grade-A office space in response to growing demand from multinational companies operating in future-focused economic sectors.
The fourth phase represents an investment of AED 615m ($167.46m) and will add 263,000 sqft of gross leasable area. With this launch, TECOM Group’s total investment in the Innovation Hub project at Dubai Internet City has reached AED 2bn, reinforcing the area’s status as the region’s leading technology cluster and aligning with the group’s long-term growth strategy.
The announcement follows strong leasing momentum across earlier phases of the project. Innovation Hub Phase 3 was fully leased ahead of its planned completion in 2027, while Phase 2 has also been completed and entirely occupied by Fortune 500 companies and digital economy leaders. Phase 1 laid the foundation for the development and continues to host major global technology firms including Google and Gartner.
Scheduled for completion in 2028, Phase 4 will further expand TECOM Group’s portfolio of premium commercial assets, enabling it to support both new and existing technology tenants amid sustained demand for high-quality office space driven by national and emirate-level economic strategies.
Abdulla Belhoul, Abdulla Belhoul, chief executive officer of TECOM Group PJSC, said: “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.
“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.”
The group will fund the new development using existing resources, while maintaining a balanced leverage and liquidity position. The project follows a strong financial performance for TECOM Group in the first nine months of 2025, supported by higher occupancy levels, improved rental rates, operational efficiencies and portfolio expansion. During the period, the company reported revenues exceeding AED 2.1bn, reflecting 20% year-on-year growth, while net profit rose 18% to more than AED 1.1bn compared with the same period in 2024.
Established in 1999, Dubai Internet City has grown into the region’s largest technology hub, home to multinational corporations, start-ups and Fortune 500 companies. The district is estimated to contribute around 65% of Dubai’s technology GDP and features a comprehensive ecosystem that includes premium Grade-A offices and 20 research, development and innovation centres, cementing its role as a global destination for digital economy businesses.
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