Latest news with #DubaiInternetCity–ImpactAssessment
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
Zawya
02-05-2025
- Business
- Zawya
TECOM Group's Q1 2025 net profit rises by 23%
DUBAI - TECOM Group announced a 21 percent year-on-year (YoY) increase in revenues to AED680 million for the first quarter of 2025, while net profit grew by 23 percent YoY to reach AED361 million during the period. Reflecting revenue growth and improved operational performance across all business areas, EBITDA increased by 23 percent YoY to AED540 million, while EBITDA margin grew to 79 percent. 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." He added that the impressive Q1 2025 performance reinforces TECOM Group's leading role in curating Dubai's most dynamic and pro-growth business districts and the company's strategic roadmap for sustainable growth. These results highlight how TECOM's ecosystems are powering growth in the city's priority economic sectors to create long-term shareholder value. The first quarter of 2025 recorded strong operational performance, highlighted by a six percent YoY increase in the number of customers, which exceeded 12,000, driven by the sustained demand for commercial and industrial assets as well as land leasing. Moreover, Epson inaugurated its state-of-the-art Innovation Centre at Dubai Production City in February. The centre will provide local insights to Epson's global teams for the development of next-generation technologies. Also, Dubai Internet City revealed its contribution towards 65 percent of Dubai's tech sector GDP as part of the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture. 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 AED350 million of investments from food and beverage (F&B) customers in 2024. Dubai Science Park welcomed biopharmaceutical giant MSD in January. The Park also hosted the Middle East's first Longevity Science Semester Symposium in February. 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 the 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.
Channel Post MEA
18-04-2025
- Business
- Channel Post MEA
Dubai Internet City and in5 to Participate at the Inaugural edition of GITEX Asia
Dubai Internet City, the enabler of the Middle East's digital economy, will join a delegation led by Dubai's Department of Economy and Tourism (DET) at GITEX Asia, taking place on 23-25 April in Singapore. The region's leading tech hub, part of TECOM Group, will showcase the dynamism and innovation of Dubai's digital economy at the first edition of GITEX Asia. Dubai Internet City has been instrumental in enabling globally impactful innovation for 25 years, contributing significantly to digital transformation efforts and encouraging the adoption of advanced technologies. Today, Dubai Internet City generates 65% of Dubai's technology sector GDP and has facilitated the creation of more than 125,000 jobs since its inception in 1999, according to the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and released this February. Participating at GITEX Asia, Dubai Internet City, which has added AED 100 billion to Dubai's GDP over the past 15 years alone, will reinforce its commitment to accelerating the city's position as an internationally impactful tech hub. 'Digital transformation thrives through collaboration with global technology policymakers and industry leaders, and GITEX Asia is a springboard to showcase the robust fundamentals of Dubai's world-class digital economy to international peers and partners,' said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. 'We look forward to showcasing the transformative potential of Dubai Internet City's ecosystem and fostering partnerships that will shape the future of the technology sector, strengthening Dubai's and the UAE's position as a preferred global destination for business, investment, and innovation, in line with the visionary Dubai Economic Agenda 'D33' and the UAE Digital Economy Strategy.' Dubai Internet City's presence at GITEX Asia will showcase success stories from its vibrant ecosystem of 4,000 customers – including multinational giants, Fortune 500s such as IBM, Google, and Microsoft, and start-ups – and more than 31,000 professionals. The district's offering is further strengthened by 19 Innovation and research and development (R&D) Centres operated by global leaders including 3M, IBM, HP, Ericsson, and Cisco. in5, the start-up and entrepreneurship incubator founded by TECOM Group in 2013, has supported more than 1,000 start-ups across the tech, media, design, and science sectors since its inception, and will join Dubai Internet City at GITEX Asia. Dubai Internet City will be located at the Dubai stand, HB-C80, in Hall B of Marina Bay Sands during GITEX Asia. 0 0
Hi Dubai
17-04-2025
- Business
- Hi Dubai
Dubai's Leading Tech Hub to Showcase Talent, Innovation Shaping the Future of Tech at Inaugural GITEX Asia
Dubai Internet City, the enabler of the Middle East's digital economy, will join a delegation led by Dubai's Department of Economy and Tourism (DET) at GITEX Asia, taking place on 23-25 April in Singapore. The region's leading tech hub, part of TECOM Group PJSC, will showcase the dynamism and innovation of Dubai's digital economy at the first edition of GITEX Asia. Dubai Internet City has been instrumental in enabling globally impactful innovation for 25 years, contributing significantly to digital transformation efforts and encouraging the adoption of advanced technologies. Today, Dubai Internet City generates 65% of Dubai's technology sector GDP and has facilitated the creation of more than 125,000 jobs since its inception in 1999, according to the Dubai Internet City – Impact Assessment study conducted in partnership with Accenture and released this February. Participating at GITEX Asia, Dubai Internet City, which has added AED 100 billion to Dubai's GDP over the past 15 years alone, will reinforce its commitment to accelerating the city's position as an internationally impactful tech hub. 'Digital transformation thrives through collaboration with global technology policymakers and industry leaders, and GITEX Asia is a springboard to showcase the robust fundamentals of Dubai's world-class digital economy to international peers and partners,' said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. 'We look forward to showcasing the transformative potential of Dubai Internet City's ecosystem and fostering partnerships that will shape the future of the technology sector, strengthening Dubai's and the UAE's position as a preferred global destination for business, investment, and innovation, in line with the visionary Dubai Economic Agenda 'D33' and the UAE Digital Economy Strategy.' Dubai Internet City's presence at GITEX Asia will showcase success stories from its vibrant ecosystem of 4,000 customers – including multinational giants, Fortune 500s such as IBM, Google, and Microsoft, and start-ups – and more than 31,000 professionals. The district's offering is further strengthened by 19 Innovation and research and development (R&D) Centres operated by global leaders including 3M, IBM, HP, Ericsson, and Cisco. in5, the start-up and entrepreneurship incubator founded by TECOM Group in 2013, has supported more than 1,000 start-ups across the tech, media, design, and science sectors since its inception, and will join Dubai Internet City at GITEX Asia. Dubai Internet City will be located at the Dubai stand, HB-C80, in Hall B of Marina Bay Sands during GITEX Asia. Alongside in5, Dubai Internet City is part of TECOM Group's portfolio of business districts and services, which includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, and Dubai Design District (d3). News Source: Burson
