Latest news with #AbdullaBelhoul
Zawya
14-05-2025
- Business
- Zawya
Trakhees deploys specialized field teams to accelerate Nad Al Sheba Mall launch
Completion of Field Inspections and Approval for the Launch of Nad Al Sheba Mall Belhoul: We are committed to empowering the business community and streamlining regulatory processes to align with the aspirations of investors and entrepreneurs Belhoul: We deploy specialized teams to provide on-ground support and guidance to ensure the smooth launch of commercial activities across shopping centers and entertainment destinations in special development zones The Department of Planning and Development– Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has announced the completion of all necessary field and environmental inspections at Nad Al Sheba Mall in Dubai. The mall has received official approval to open its doors to visitors and shoppers, offering a safe and comfortable retail experience. Eng. Abdulla Belhoul, CEO of the Department of Planning and Development– Trakhees, emphasized that the Ports, Customs and Free Zone Corporation operates under a clear vision to empower the business community and simplify regulatory procedures in line with the ambitions of investors and entrepreneurs. Trakhees' involvement in the launch of Nad Al Sheba Mall underscores its critical role in supporting economic growth and fostering a flexible, investment-friendly environment. Belhoul noted that Trakhees deployed specialized field support teams from Commercial Licensing, Government & Commercial Inspection sections. These teams assisted individual clients and business owners at Nad Al Sheba Mall during the pre-opening phase, ensuring all licensing procedures were completed in time for the official launch. The mall is set to become a vibrant new destination, not only for the Nad Al Sheba area but for Dubai as a whole. The CEO added that these efforts are part of Trakhees' broader commitment to enhancing business operations and improving customer experiences by offering direct support and on-site guidance. This approach ensures a seamless start for commercial activities across various malls and entertainment hubs in the special development zones overseen by the Corporation. The initiative also aims to reduce administrative burdens on investors and expedite operational processes, providing them with the confidence to launch without delay. Eng. Belhoul affirmed that Trakhees' licensing procedures underscore the department's vital contribution during this pivotal phase and its ongoing support for Dubai's business environment. These efforts also reinforce Dubai's position as a global hub for the retail sector by streamlining regulatory measures and offering tangible, on-the-ground support to entrepreneurs and investors. He concluded: 'We are committed to delivering an exceptional customer experience by minimizing administrative challenges, accelerating license issuance, and providing immediate, tailored solutions for every project. Our teams are actively present in the field to offer full support and ensure businesses are operationally ready at the highest levels of efficiency'. Nad Al Sheba Mall is the latest addition to the heart of Nad Al Sheba, one of Dubai's most prominent retail and shopping destinations. Strategically located and featuring a contemporary design, the mall spans 500,000 square feet and houses over 100 stores, offering a wide range of shopping, dining, fitness, and entertainment options.
Hi Dubai
05-05-2025
- Business
- Hi Dubai
TECOM Group Records 21% Revenue Surge in Q1 2025 as Profit Climbs to AED361 Million
TECOM Group reported a robust start to 2025, with first-quarter revenues climbing 21 percent year-on-year to AED680 million and net profit rising 23 percent to AED361 million, driven by strong operational performance across its portfolio. The company's EBITDA grew by 23 percent to AED540 million, with the EBITDA margin improving to 79 percent. The growth reflects increased demand across its commercial, industrial, and land leasing segments, bolstered by a six percent rise in its customer base, which now exceeds 12,000. CEO Abdulla Belhoul credited the performance to the strength of TECOM's diverse asset base and its alignment with Dubai's push to grow its knowledge-based economy. 'We continue to attract global companies and world-class talent across six strategic sectors,' he said. The quarter also saw significant developments across TECOM's districts. Epson launched an Innovation Centre at Dubai Production City, and Fabtech Engineering at Dubai Industrial City signed a strategic agreement with Groupe M to boost innovation in nuclear and sustainable energy. Dubai Internet City, a key TECOM asset, was found to contribute 65 percent of the emirate's tech sector GDP, according to a study conducted with Accenture. Dubai Science Park welcomed biopharma leader MSD and hosted the region's first Longevity Science Semester Symposium. Dubai Design District cemented its global fashion status by showcasing the Autumn/Winter 2025–26 edition of Dubai Fashion Week. Meanwhile, the third edition of The Good Store initiative brought together over 137,000 professionals for charitable giving during Ramadan and Eid. Belhoul noted that TECOM's performance reinforces its role in shaping Dubai's future economy while delivering long-term value to shareholders. News Source: Emirates News Agency
Zawya
05-05-2025
- Business
- Zawya
Tecom Q1 revenue up 21% to $185mln
Tecom Group, a leading developer and operator of specialised business districts across Dubai, has announced a 21% year-on-year (YoY) increase in revenues to AED680 million ($185.13 million) for the first quarter of 2025, while net profit grew by 23% YoY to reach AED361 million during the period. The group's exceptional performance highlights the strength of its diverse asset portfolio and the success of its long-term strategy to unlock sustainable growth by harnessing Dubai's economic momentum, which is elevating the city's appeal as a global business and investment hub. Abdulla Belhoul, Chief Executive Officer of Tecom Group, said: 'Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai's and the UAE's knowledge economy as we attract global companies and world-class talent across six strategic sectors. 'Our impressive Q1 2025 performance reinforces Tecom Group's leading role in curating Dubai's most dynamic and pro-growth business districts as well as our strategic roadmap for sustainable growth. Reflecting Dubai's rising profile as the destination of choice for global investors and entrepreneurial talent, these results highlight how our ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value.' Q1 2025 Financial Highlights • Strong performance across all business segments and the group's strategic roadmap for expansion and sustainable growth led to revenues of AED680 million, representing YoY growth of 21%. • Reflecting revenue growth and improved operational performance across all areas of the business, EBITDA increased by 23% YoY to AED540 million, while EBITDA margin grew to 79%. • Net profit increased by 23% YoY to AED361 million, while – led by improved collections and the strong performance of income-generating assets – funds from operations (FFO) noted 16% YoY growth to AED480 million. Key Operational Activities • Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. Demonstrating the company's commitment to innovation and sustainability, the centre will provide local insights to Epson's global teams for the development of next-generation technologies. • Dubai Internet City revealed its contribution towards 65% of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and launched during Step Dubai, which the district hosted as a Strategic Partner in February. • In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE's nuclear and sustainable energy sectors. Dubai Industrial City attracted more than AED 350 million of investments from food and beverage (F&B) customers in 2024, the district announced during the landmark 30th edition of Gulfood, the world's largest annual F&B sourcing event, this February. • Dubai Science Park welcomed biopharmaceutical giant MSD in January, which strengthened its regional commitment with the launch of a new office focused on the co-creation of health and well-being solutions. Dubai Science Park also hosted the Middle East's first Longevity Science Semester Symposium in February to discuss and promote advancements in healthcare innovation. • Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai's position as a global fashion destination. • Tecom Group launched the third edition of The Good Store in partnership with Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of more than 137,000 professionals across Dubai. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Tecom Q1 revenue up 21% to $185m
Tecom Group, a leading developer and operator of specialised business districts across Dubai, has announced a 21% year-on-year (YoY) increase in revenues to AED680 million ($185.13 million) for the first quarter of 2025, while net profit grew by 23% YoY to reach AED361 million during the period. The group's exceptional performance highlights the strength of its diverse asset portfolio and the success of its long-term strategy to unlock sustainable growth by harnessing Dubai's economic momentum, which is elevating the city's appeal as a global business and investment hub. Abdulla Belhoul, Chief Executive Officer of Tecom Group, said: 'Our strong start to 2025 reflects the exceptional performance of our diverse asset portfolio and its pivotal role in championing Dubai's and the UAE's knowledge economy as we attract global companies and world-class talent across six strategic sectors. 'Our impressive Q1 2025 performance reinforces Tecom Group's leading role in curating Dubai's most dynamic and pro-growth business districts as well as our strategic roadmap for sustainable growth. Reflecting Dubai's rising profile as the destination of choice for global investors and entrepreneurial talent, these results highlight how our ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value.' Q1 2025 Financial Highlights • Strong performance across all business segments and the group's strategic roadmap for expansion and sustainable growth led to revenues of AED680 million, representing YoY growth of 21%. • Reflecting revenue growth and improved operational performance across all areas of the business, EBITDA increased by 23% YoY to AED540 million, while EBITDA margin grew to 79%. • Net profit increased by 23% YoY to AED361 million, while – led by improved collections and the strong performance of income-generating assets – funds from operations (FFO) noted 16% YoY growth to AED480 million. Key Operational Activities • Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. Demonstrating the company's commitment to innovation and sustainability, the centre will provide local insights to Epson's global teams for the development of next-generation technologies. • Dubai Internet City revealed its contribution towards 65% of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and launched during Step Dubai, which the district hosted as a Strategic Partner in February. • In March, Fabtech Engineering, based at Dubai Industrial City, entered a strategic agreement with French industrial leader Groupe M to accelerate innovation within the UAE's nuclear and sustainable energy sectors. Dubai Industrial City attracted more than AED 350 million of investments from food and beverage (F&B) customers in 2024, the district announced during the landmark 30th edition of Gulfood, the world's largest annual F&B sourcing event, this February. • Dubai Science Park welcomed biopharmaceutical giant MSD in January, which strengthened its regional commitment with the launch of a new office focused on the co-creation of health and well-being solutions. Dubai Science Park also hosted the Middle East's first Longevity Science Semester Symposium in February to discuss and promote advancements in healthcare innovation. • Dubai Design District (d3) showcased the Autumn/Winter 2025-26 edition of Dubai Fashion Week in February, further solidifying Dubai's position as a global fashion destination. • Tecom Group launched the third edition of The Good Store in partnership with Dubai Charity Association in March 2025, providing an innovative platform for charitable donations during Ramadan and Eid Al Fitr by uniting its community of more than 137,000 professionals across Dubai. - TradeArabia News Service
Arabian Post
03-05-2025
- Business
- Arabian Post
TECOM Group Reports Robust Q1 2025 Financial Performance Amid Strategic Expansion
TECOM Group PJSC has reported a 21% year-on-year increase in revenue, reaching AED 680 million for the first quarter of 2025. Net profit rose by 23% to AED 361 million, reflecting strong operational performance and strategic investments across its diversified asset portfolio. The company's EBITDA grew by 23% year-on-year to AED 540 million, with the EBITDA margin improving to 79%. These figures underscore the group's commitment to enhancing Dubai's knowledge economy by attracting global companies and talent across six strategic sectors. Abdulla Belhoul, Chief Executive Officer of TECOM Group, attributed the strong start to 2025 to the exceptional performance of the group's diverse asset portfolio. He emphasized the pivotal role TECOM plays in championing Dubai's and the UAE's knowledge economy. The group's strategic investments in 2024, totaling AED 2.7 billion, have expanded its portfolio significantly. Notable developments include the acquisition of Office Park in Dubai Internet City for AED 720 million and the launch of Innovation Hub Phase 3 within Dubai Internet City, a AED 340 million development. These investments align with TECOM's roadmap for sustainable growth through targeted acquisitions and the development of high-quality commercial real estate. Operationally, TECOM Group has maintained high occupancy and retention rates across its portfolio. As of the end of 2024, commercial and industrial occupancy stood at 94%, with a retention rate of 92%. The number of customers increased by 8% year-on-year, reaching over 11,900. The fair value of the group's investment property portfolio increased by 11% on a like-for-like basis and by 22% inclusive of new acquisitions, reaching AED 28 billion in 2024. This growth reflects the enhanced fundamentals of Dubai's real estate market and increased occupancy and retention across TECOM's portfolio. TECOM Group's commitment to sustainability is evident in its environmental, social, and governance initiatives. In 2024, 49% of the group's commercial portfolio was LEED-certified, with solar generation increasing by 15.5% to 14.2 GWh. Additionally, 36.3% of all waste was sent to waste-to-energy plants. The group's in5 incubator supported 410 start-ups, with 30% owned by women. The Board of Directors has proposed a dividend payment of AED 400 million for the second half of 2024, subject to shareholder approval at the upcoming Annual General Meeting scheduled for 10 March 2025. The interim cash dividend for the second half of 2025 is expected to increase by 10%.
