TECOM Group Launches $167 Million Innovation Hub Phase 4 at Dubai Internet City
Dubai-based TECOM Group has announced a new investment of $167.5 million (AED 615 million) to launch Phase 4 of its Innovation Hub at Dubai Internet City. This new phase aims to meet the growing demand for high-quality office spaces from global technology companies and multinational firms.
New Phase Details
Phase 4 of the Innovation Hub will add about 263,000 square feet of leasable office space. This expansion will further strengthen Dubai Internet City’s role as the leading technology hub in the Middle East, according to a statement released by the company on Thursday.
With this latest development, TECOM Group’s total investment in the Innovation Hub project will reach $544.6 million (AED 2 billion).
The announcement follows strong demand for office space in the earlier phases of the project. Phase 3 of the Innovation Hub was fully leased even before its expected completion in 2027. Phase 2 has already been completed and is also fully leased, with tenants including leading companies in the digital economy. Phase 1, which is the foundation of the project, is home to major global technology firms such as Google and Gartner.
Once completed in 2028, Phase 4 will further expand TECOM Group’s portfolio of Grade-A commercial properties, offering premium office spaces designed for modern businesses.
TECOM Group stated that the development of Phase 4 will be funded using its existing financial resources. The company added that it will continue to maintain a strong financial position with healthy levels of debt and liquidity.
Strong Financial Performance
The launch of Phase 4 comes at a time of strong financial performance for TECOM Group. In the first nine months of 2025, the company benefited from higher office occupancy rates, increased rental prices, improved operational efficiency, and the expansion of its property portfolio.
During this period, TECOM Group reported revenues of more than $571.8 million (AED 2.1 billion), marking a 20% increase compared to the same period last year. Net profit also grew by 18%, reaching $299.5 million (AED 1.1 billion).
Dubai Internet City as a Leading Tech Hub
Dubai Internet City was established in 1999 and is part of TECOM Group’s wide portfolio of business districts. Over the years, it has grown into the largest technology hub in the Middle East. Today, it contributes about 65% of Dubai’s technology-related gross domestic product (GDP).
The district offers a complete business ecosystem, including premium office spaces and more than 20 research, development, and innovation centers that support technology growth and innovation.
Dubai Internet City is one of several specialized business districts operated by TECOM Group. Other key districts include Dubai Media City, Dubai Design District (d3), Dubai Science Park, Dubai Industrial City, and several others, each focused on supporting specific industries and business sectors.
Published: 19th December 2025
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