TECOM Group breaks ground on Innovation Hub Phase 2 in Dubai Internet City

TECOM Group breaks ground on Innovation Hub Phase 2 in Dubai Internet City

DUBAI, 19th December, 2022 (WAM) -- TECOM Group has broken ground on the Innovation Hub Phase 2 in Dubai Internet City, as Dubai’s legislative framework and ease of doing business attract a high volume of international companies and investors.

The Group is expanding its leasing portfolio to capture the increasing demand in Dubai’s commercial real estate market underpinned by the emirate’s economic development and the government’s pro-growth strategies.

The AED442 million new investment underscores TECOM Group’s commitment to expanding and tailoring its portfolio to emerging sector needs and attracting global companies. It will offer customers high-quality commercial office properties, state-of-the-art office spaces and HQs tailored to customer specifications.

Abdulla Belhoul, Chief Executive Officer of TECOM Group, said, “TECOM Group remains a pillar for Dubai’s business hub proposition. New regulatory frameworks and the ease of doing business are accelerating economic growth and reinforcing investor and business confidence. We’re seeing the success of our leadership’s economic diversification strategy reflected in our commercial and industrial real estate portfolio performance this year due to an influx of new companies and talent.

“Across our portfolio, existing customers are expanding their operations, complemented by an inflow of new foreign investment. Bespoke solutions like the Innovation Hub address the need for