TECOM Group’s recurring net profit rose 10% to AED1.22 billion in the first nine months of 2026, the Dubai business district operator said on Thursday, as high occupancy and an expanding land lease portfolio lifted revenue.
Revenue for the period grew 11% to AED2.35 billion from AED2.11 billion a year earlier, the company said in a statement to the Dubai Financial Market.
Earnings before interest, taxes, depreciation and amortization rose 11% to AED1.85 billion, for a margin of 79%.
Funds from operations increased 11% to AED1.6 billion.
Third quarter
Third-quarter recurring net profit climbed 12% to AED417 million from AED373 million. Revenue rose 12% to AED809 million from AED724 million.
Land lease revenue grew 35% in the quarter to AED202 million. Commercial revenue rose 6% to AED390 million, and industrial revenue increased 11% to AED125 million.
Combined occupancy across the commercial and industrial portfolio reached 97%.
Segment performance
For the nine months, commercial revenue rose 10% to AED1.2 billion, with occupancy at 95%. Industrial revenue grew 13% to AED365 million, as occupancy reached 98%.
Land lease revenue rose 26% to AED563 million.
The customer retention rate increased to 95% from 93% a year earlier.
“The expansion of our industrial land lease portfolio also contributed to accelerated Q3 revenue growth, driven by high occupancy and customer retention rates,” Abdulla Belhoul, chief executive officer, said.
TECOM Group owns and operates 10 specialized business districts in Dubai.
