Dubai’s technology sector receives a significant boost as Tecom Group PJSC announces the launch of Innovation Hub Phase 4, a Dh615 million ($167 million) development within Dubai Internet City. This strategic expansion addresses the growing demand for premium office spaces from multinational corporations operating in future-oriented economic sectors.
The new development spans 263,000 square feet of gross leasable area, marking the fourth phase of the Innovation Hub project. This investment brings Tecom Group’s total commitment to the Innovation Hub initiative to approximately Dh2 billion, significantly strengthening Dubai Internet City’s position as the Middle East’s premier technology ecosystem.
The decision to launch Phase 4 follows remarkable commercial success of previous phases. Innovation Hub Phase 3 achieved full occupancy ahead of its 2027 completion schedule, while Phase 2 is entirely leased to Fortune 500 companies and digital economy leaders. The original Phase 1 continues to serve as a cornerstone for global technology giants including Google and Gartner.
Abdulla Belhoul, Chief Executive Officer of Tecom Group PJSC, emphasized the development’s strategic importance: ‘This launch demonstrates our ongoing commitment to supporting future-focused economic activity in Dubai and the UAE. Our nation’s pro-business environment, combined with visionary strategies like the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33′, continues to attract innovative global enterprises.’
The project will be financed through Tecom Group’s existing resources while maintaining healthy leverage and liquidity positions. This expansion follows the Group’s strong financial performance in 2025, with nine-month revenues exceeding Dh2.1 billion representing 20% year-on-year growth, and net profit surpassing Dh1.1 billion with an 18% increase compared to the same period in 2024.
Established in 1999, Dubai Internet City has evolved into the region’s largest technology hub, currently contributing to 65% of Dubai’s technology GDP. The district hosts a comprehensive ecosystem featuring premium Grade-A offices and 20 Research & Development and Innovation Centres, serving as a unifying base for digital economy companies worldwide.
Innovation Hub Phase 4 is scheduled for completion in 2028 and will further enhance Tecom Group’s portfolio of commercial assets across its specialized business districts, which include Dubai Media City, Dubai Production City, and Dubai Design District among others.