TECOM Group has launched Phase 4 of Innovation Hub in Dubai Internet City, committing AED615 million ($167.5 million) to expand Grade-A office capacity as demand rises from multinational companies operating in future-focused sectors. The new phase adds 263,000 square feet of gross leasable area and further strengthens Dubai Internet City’s position as a leading regional technology hub.
The development marks the fourth phase of the Innovation Hub project and brings TECOM Group’s total planned investment in the project to AED2 billion. The announcement follows strong leasing momentum in earlier phases: Innovation Hub Phase 3 was fully leased ahead of its scheduled completion in 2027, Phase 2 is completed and fully leased to Fortune 500 firms and digital economy leaders, and Phase 1 established the project as a key destination for global technology brands such as Google and Gartner.
Innovation Hub Phase 4 is expected to be completed in 2028 and will expand TECOM’s portfolio of premium commercial assets, positioning the group to serve additional technology tenants as Dubai’s digital economy accelerates. TECOM said the project aligns with national and emirate-level growth strategies, including the UAE Digital Economy Strategy and Dubai Economic Agenda D33, which continue to drive demand for high-quality office infrastructure in innovation-led industries.
TECOM Group CEO Abdulla Belhoul said the expansion reflects the company’s commitment to enabling future economic activity and supporting the evolving needs of the technology sector. The company stated it will finance the development through existing resources while maintaining strong liquidity and a healthy leverage profile.
The launch comes amid strong financial performance from TECOM Group in 2025. The company reported revenue of more than AED2.1 billion in the first nine months of the year, up 20% year-on-year, while net profit exceeded AED1.1 billion, an 18% increase over the same period in 2024—driven by improved occupancy, higher rental rates, and continued portfolio expansion
