The Board of Directors of TECOM Group PJSC (DFM: TECOM), a leading developer of specialised business districts and dynamic communities, has approved a strategic investment of AED 1.6 billion to acquire 138 land plots spanning 33 million sq.ft. This acquisition, secured from Dubai Holding Asset Management, will expand the Group’s total land portfolio to over 209 million sq.ft., further strengthening Dubai Industrial City’s position as a key destination for manufacturing and logistics companies. Currently operating at 99% occupancy—including plots acquired last year—Dubai Industrial City is experiencing heightened demand, driven by national initiatives such as Operation 300bn, Make it in the Emirates, and the Dubai Economic Agenda ‘D33’.
Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC, commented: “This strategic acquisition underscores our commitment to supporting the UAE’s and Dubai’s industrial sector. Backed by solid macroeconomic fundamentals and long-term initiatives like the Comprehensive Economic Partnership Agreement (CEPA), the UAE continues to attract significant foreign direct investment. The expansion reinforces Dubai Industrial City’s role in advancing national manufacturing goals and serving a growing customer base.”
He added: “With a future-oriented approach and strong liquidity, we are capitalising on favourable market conditions and making targeted investments to enhance our portfolio of industrial assets, ultimately delivering long-term value for our shareholders.”
This AED 1.6 billion investment is part of TECOM Group’s broader strategic growth agenda, raising its total investments across commercial and industrial assets to AED 4.3 billion since 2024. The expansion, carried out by the Group’s subsidiary, Dubai Industrial City LLC, reflects surging demand for industrial infrastructure. It follows last year’s acquisition of 13.9 million sq.ft. of land in the same district, which has already been fully leased to major clients across six key sectors, including food and beverage (F&B), base metals, and transportation.
The Group plans to fund the acquisition through internal resources, supported by a flexible repayment schedule. Revenue from the new land bank is expected to begin within 12 to 24 months. TECOM Group will continue to maintain a strong liquidity and leverage profile following the transaction.
All regulatory and governance standards were fully observed in the acquisition process, with independent, accredited third parties conducting property valuations in line with international best practices.
This acquisition comes on the heels of TECOM Group’s strong financial results for the first half of 2025, which included a 22% year-on-year increase in net profit to AED 737 million and a 21% rise in revenue to AED 1.4 billion. With robust rental growth and high occupancy rates, the Group continues to attract global clients to its thriving business districts.
Since its establishment in 2004, Dubai Industrial City—part of TECOM Group—has evolved into a premier hub for manufacturing and logistics, catering to a wide range of local, regional, and international businesses. The district is home to over 350 operational factories and benefits from a strategically designed masterplan offering industrial land, warehousing, and logistics facilities. Its location near Jebel Ali Port, Al Maktoum International Airport, and an Etihad Rail freight terminal further enhances its standing as a critical link in the global supply chain.