TECOM Group to Spend $435.7M on 138 New Land Plots in Dubai
Dubai-based TECOM Group has approved a deal worth $435.7 million (AED 1.6 billion) to buy 138 land plots covering 33 million square feet, the company announced on Thursday.
Bigger land portfolio
With this purchase, TECOM’s total land holdings will rise to more than 209 million square feet. This move will strengthen Dubai Industrial City’s role as a hub for manufacturing and logistics companies.
Dubai Industrial City is already 99% full, including land bought last year. Demand has been driven by programs such as Operation 300bn, Make it in the Emirates, and Dubai’s D33 Economic Agenda.
This new deal is part of TECOM’s growth strategy and brings its total investment in commercial and industrial land to $1.2 billion (AED 4.3 billion) since 2024.
The company will use its own funds with a flexible repayment plan. It expects to start earning income from the new land within 12–24 months while keeping a strong financial position.
Background
Last year, TECOM purchased 13.9 million square feet of land in Dubai Industrial City. That land is now fully leased to top clients in six key sectors, including food and beverage, base metals, and transport.
Strong first-half results
In the first half of 2025, TECOM’s net profit rose 22% year-on-year to $200.7 million (AED 737 million), supported by higher revenue and better cost management.
Revenue grew 21% to $381.2 million (AED 1.4 billion) from January to June. The board also approved an interim dividend of $108.9 million (AED 400 million) for the first half of 2025, in line with its dividend policy until September 2025.
Published: 30th August 2025
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