TECOM Group has launched Phase 4 of Innovation Hub in Dubai Internet City, responding to rising demand for Grade-A office space from global multinational companies operating across future-focused economic sectors.
Valued at Dhs615m, the fourth phase will deliver 263,000 sq ft of gross leasable area and further strengthen Dubai Internet City’s position as the region’s leading technology hub. With this launch, TECOM Group’s total investment in the Innovation Hub project will reach Dhs2bn, aligning with its long-term strategic growth plan.
The announcement follows strong demand across earlier phases of the development. Innovation Hub Phase 3 was fully leased ahead of its scheduled completion in 2027, while Phase 2 has already been completed and fully occupied by Fortune 500 companies and digital economy leaders. Phase 1 continues to serve as the foundation of the project and remains home to global technology players including Google and Gartner.
Scheduled for completion in 2028, Phase 4 will expand TECOM Group’s portfolio of premium commercial assets, enhancing its capacity to support both existing and new technology tenants amid growing demand for high-quality office space driven by national economic strategies.
“The launch of Innovation Hub Phase 4 reflects TECOM Group’s ongoing commitment to supporting vital future-focused economic activity in the UAE and Dubai,” said Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC. “The UAE’s and Dubai’s globally renowned pro-business framework, coupled with visionary strategies such as the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33’, continue to highlight our nation’s ability to attract future-focused innovators and investors. This strategic development further enhances Dubai Internet City’s empowering role in the technology sector, ensuring it is well-positioned to serve the evolving needs of the digital economy.
“Our healthy liquidity and strategic roadmap for sustainable growth ensure we are well-placed to capitalise on favourable market dynamics, and we will continue to expand TECOM Group’s portfolio in high-growth sectors that promote innovation to deliver long-term value for our shareholders.”
The Group will fund the development using existing resources while maintaining a strong leverage and liquidity position. The project follows TECOM Group’s robust nine-month financial performance in 2025, supported by higher occupancy, increased rental rates, operational efficiencies, and portfolio expansion. During the first nine months of the year, the Group reported revenues exceeding Dhs2.1bn, representing a 20 per cent year-on-year increase, while net profit surpassed Dhs1.1bn, up 18 per cent compared to the same period in 2024.
Established in 1999, Dubai Internet City has evolved into the region’s largest technology hub, hosting multinational corporations, start-ups, and Fortune 500 companies. The district contributes around 65 per cent of Dubai’s tech GDP and offers a comprehensive ecosystem that includes premium Grade-A offices and 20 research, development, and innovation centres.
Dubai Internet City forms part of TECOM Group’s wider portfolio of sector-focused business districts, which also includes Dubai Media City, Dubai Production City, Dubai Studio City, Dubai International Academic City, Dubai Knowledge Park, Dubai Science Park, Dubai Design District (d3), and Dubai Industrial City.
Source: https://gulfbusiness.com/new-dhs615m-innovation-hub-planned-for-dubai-internet-city/
