TECOM Group breaks ground on specialised tech offices at Dubai Internet City

TECOM Group breaks ground on specialised tech offices at Dubai Internet City

- Innovation Hub Phase 1 is approaching total capacity, housing global tech players Google, Hewlett-Packard, Gartner and China Telecom

- The ground-breaking signals the start of Innovation Hub Phase 2 at an investment of more than AED440 million

- Innovation Hub Phase 2 project will add more than 355,000 square feet of space for technology, education and new media businesses

- Dubai’s commercial real estate market is in high demand, with citywide occupancy levels at 83% – the highest since 2014

Dubai, UAE: TECOM Group PJSC (DFM: TECOM), (the “Company” or the “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