TECOM Group PJSC, a key developer of specialized business areas and dynamic communities in Dubai, has unveiled Phase 4 of the Innovation Hub situated within Dubai Internet City. This launch aims to meet the increasing demand for high-quality office spaces from prominent multinational corporations operating in crucial, forward-thinking economic sectors.

Spanning a gross leasable area (GLA) of 263,000 square feet and costing AED 615 million, this new development marks the fourth phase of the Innovation Hub, reinforcing Dubai Internet City’s status as the preeminent technology center in the region. The initiation of Phase 4 aligns with TECOM Group’s strategic growth objectives, bringing the total investment in the Innovation Hub project to AED 2 billion.

This announcement comes on the heels of the successful leasing of the third phase of the Innovation Hub, which was fully rented out even before its anticipated completion in 2027. The second phase is also completely leased to Fortune 500 companies and key players in the digital economy, while the first phase laid the groundwork for this initiative—continuing to attract major global tech firms such as Google and Gartner.

The addition of Phase 4 to the Innovation Hub will expand TECOM Group’s collection of high-quality commercial properties, enhancing its capacity to cater to both new and existing technology clients. The completion is slated for 2028, at a time when demand for premium office spaces is on the rise due to important national strategies.

Abdulla Belhoul, CEO of TECOM Group PJSC, emphasized the group’s steadfast commitment to fostering essential, future-oriented economic initiatives within the UAE and Dubai. He stated that the UAE’s internationally recognized business-friendly environment, along with ambitious strategies like the UAE’s Digital Economy Strategy and Dubai Economic Agenda ‘D33’, underscore the nation’s potential to attract innovative thinkers and investors. The new development further strengthens Dubai Internet City’s influential position in the technology sector, equipping it to meet the changing requirements of the digital economy.

TECOM Group plans to finance this development by leveraging its existing resources while ensuring a healthy balance of leverage and liquidity. This rollout follows a robust financial performance in the first nine months of 2025, characterized by significant occupancy gains, rising rental prices, enhanced operational efficiencies, and ongoing portfolio expansion. The Group reported revenues exceeding AED 2.1 billion, reflecting a 20% year-on-year growth, with net profit surpassing AED 1.1 billion, an increase of 18% compared to the same timeframe in 2024.

Established in 1999, Dubai Internet City has evolved into the largest hub for tech innovators in the region, hosting a variety of multinational corporations, startups, and Fortune 500 companies, and contributing significantly to 65% of Dubai’s tech GDP. The district’s extensive ecosystem features sector-specific infrastructure, including premium offices and 20 Research and Development and Innovation Centers, solidifying its role as a central hub for digital economy enterprises worldwide. Dubai Internet City is part of TECOM Group’s diverse portfolio, which encompasses various specialized business districts including Dubai Media City, Dubai Knowledge Park, and Dubai Industrial City.