Tecom Group has announced that its board of directors has approved an investment amounting to 1.6 billion dirhams for the acquisition of 138 industrial land plots, totaling 33 million square feet, in response to the increasing demand in the industrial sector.
The acquisition of additional industrial lands from Dubai Holding Asset Management will increase Tecom Group’s total land portfolio to over 209 million square feet, reinforcing Dubai Industrial City’s position as a leading destination for manufacturing and logistics companies while enhancing its capacity to meet the growing needs of both existing and potential clients. Currently, Dubai Industrial City is experiencing high occupancy rates of 99%, including lands acquired last year, driven by robust growth in the industrial sector across the UAE, supported by leading government initiatives such as the “300 Billion Project,” the “Make it in the Emirates” initiative, and the Dubai Economic Agenda D33.
Abdullah Belhoul, the CEO of Tecom Group, asserted that this strategic acquisition reflects the vital role Tecom Group plays within the industrial landscape of both the UAE and Dubai. He stated: “The UAE is anchored by strong fundamentals in its macroeconomic structure, bolstered by ambitious strategies that encompass comprehensive economic partnership agreements, solidifying its status as a leading global hub for foreign direct investment. We believe that this new acquisition will enhance the significant role of Dubai Industrial City in advancing the national industrial sector and addressing the increasing demand from our current and future clientele.”
He added: “Through Tecom Group’s strategy for expansion, which is grounded in strong liquidity rates, we aim to capitalize on favorable market conditions while continuing to invest in enhancing the group’s portfolio of commercial and industrial assets to deliver sustainable added value to our shareholders.”
This new acquisition is part of the group’s strategy for expansion and sustainable growth, with the deal valued at 1.6 billion dirhams, bringing the total investment by the group in commercial and industrial assets to more than 4.3 billion dirhams since 2024.
The strategic expansion carried out by Dubai Industrial City, a subsidiary of Tecom Group, reflects the rising demand for industrial assets. This follows the acquisition of 13.9 million square feet of land in Dubai Industrial City last year, which has been fully leased to major companies across six vital sectors, including food and beverage, metals, and transport.
Tecom Group will finance the new acquisition through its existing resources, adhering to a flexible payment plan, with expectations of generating revenues from the newly acquired land within the next 12 to 24 months. Furthermore, after finalizing the acquisition, the group will maintain its strong financial position and excellent liquidity ratios.
Notably, the acquisition process has undergone thorough and meticulous procedures, ensuring compliance with all market regulations and governance controls, and following the highest standards of evaluation through independent parties accredited by regulatory authorities.
This acquisition comes on the heels of Tecom Group’s strong financial performance in the first half of 2025, where it recorded a 22% increase in net profits, reaching 737 million dirhams, and a 21% rise in revenues to 1.4 billion dirhams, compared to the same period last year. Tecom Group’s ability to attract more clients from leading global and regional companies is reinforced by its specialized and pioneering clusters, amidst ongoing rises in rental rates and occupancy levels of commercial and industrial assets.