Dubai’s Tecom Group revenue up 6% at Dh1.05b in H1-2023, to pay Dh400m as interim dividend in September

Dubai’s Tecom Group revenue up 6% at Dh1.05b in H1-2023, to pay Dh400m as interim dividend in September

The Group delivered a strong performance driven by sustained high occupancy levels across its diverse high-quality portfolio.

Image Credit: Supplied







Dubai: Dubai's Tecom Group approved an interim dividend distribution of Dh400 million to shareholders for the first half of this year, to be distributed in September 2023, it was announced on Wednesday.



The landlord behind some of the city’s leading free zones, recorded revenue gains of 6 per cent to Dh1.05 billion in H1-2023, the company said in a stock market filing. The Group's net profit grew 13 per cent to Dh485 million in the first half amid a strong performance driven by sustained high occupancy levels across its high-quality portfolio.







“Commercial real estate in Dubai is growing at a steady pace owing to Dubai’s appeal as a global city to businesses, talent and investors alike and to its macroeconomic resilience,” Abdulla Belhoul, CEO, Tecom Group. “Our robust business model and our business districts’ market reputation have enabled Tecom Group to capitalise on the strong demand, supporting our solid performance during the period.”





Across its’ commercial real estate, Tecom entities had a combined occupancy of 87 per cent as of