Dubai: TECOM Group PJSC, renowned for creating specialised business districts and vibrant communities in Dubai, has officially launched Phase 4 of the Innovation Hub within Dubai Internet City. This development aims to address the increasing demand for Grade-A office spaces from global multinational companies operating in key, future-oriented economic sectors.
According to Emirates News Agency, the AED615 million development, with a gross leasable area of 263,000 square feet, marks the fourth phase of the Innovation Hub. It further solidifies Dubai Internet City's status as the premier technology hub in the region. This launch supports TECOM Group's strategic growth plan, elevating its total investments in the Innovation Hub project to AED 2 billion.
The new phase follows the success of the third phase of Innovation Hub, which was fully leased ahead of its anticipated completion in 2027. Meanwhile, the second phase is already complete and fully leased to Fortune 500 companies and leaders in the digital economy. Phase 1 remains a foundational destination for global technology giants such as Google and Gartner.
The fourth phase will enhance TECOM Group's portfolio of Grade-A commercial assets, boosting its capacity to serve both new and existing technology customers upon its completion in 2028. This comes amid a rising demand for premium office spaces driven by key national strategies.
Abdulla Belhoul, Chief Executive Officer of TECOM Group, stated, "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 like 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."
Belhoul further emphasized that TECOM Group's healthy liquidity and strategic roadmap for sustainable growth ensure they are well-positioned to capitalize on favorable market dynamics. The Group plans to continue expanding its portfolio in high-growth sectors that promote innovation, delivering long-term value for shareholders.
The Group plans to utilize its existing resources to finance the development while maintaining a healthy leverage and liquidity position. This development follows TECOM Group's strong nine-month financial performance in 2025, characterized by increased occupancy, higher rental rates, improved efficiencies, and continued portfolio expansion. The Group reported revenues exceeding AED2.1 billion, representing a 20 percent year-on-year growth during the first nine months of the year, with net profit surpassing AED1.1 billion, an 18 percent increase compared to the same period in 2024.