TECOM Group PJSC has acquired 138 land plots spanning 33 million square feet for AED1.6 billion to meet demand in Dubai’s industrial sector.
The Board of Directors approved the acquisition from Dubai Holding Asset Management on August 28, 2025.
The purchase will expand TECOM Group’s land portfolio to exceed 209 million square feet, the company said in a statement.
TECOM Group invests AED1.6 billion in 138 Dubai Industrial City plots
Dubai Industrial City currently operates at 99 per cent occupancy, including land plots acquired last year.
Growth in the UAE and Dubai’s manufacturing sector has accelerated due to Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’.
“This strategic acquisition demonstrates TECOM Group’s role as a major contributor in the industrial sector in both the UAE and Dubai,” Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC said.
“Led by robust macroeconomic fundamentals and long-term strategies such as the Comprehensive Economic Partnership Agreement (CEPA) framework, our nation is cementing its role as a global hub for foreign direct investment. This strategic acquisition reaffirms Dubai Industrial City’s significant role in advancing the country’s manufacturing sector and serving growing demand from existing and new customers,” he added.
The acquisition raises TECOM Group’s total investments across its Commercial and Industrial portfolio to AED 4.3 billion since 2024.
The expansion follows the Group’s acquisition of 13.9 million square feet of land in Dubai Industrial City last year, which has been leased to customers across six sectors including food and beverage, base metals, and transport.
“With a future-focused strategy underpinned by our healthy liquidity, we are leveraging favourable market dynamics and actively investing towards growing our world-class portfolio of industrial assets with the aim of unlocking greater long-term value for our shareholders,” Belhoul explained.
TECOM Group subsidiary Dubai Industrial City LLC executed the acquisition. The company will finance the purchase through existing resources based on a flexible repayment schedule and expects to recognise revenue from the land bank within 12-24 months.
The Group will maintain a healthy leverage and liquidity position following completion. TECOM Group has followed all regulatory and governance requirements, including conducting valuation through independent parties accredited by regulatory authorities.
The acquisition follows TECOM Group’s H1 2025 financial performance, which included 22 per cent year-on-year growth in net profit to AED737 million and 21 per cent revenue increase to AED1.4 billion.
Dubai Industrial City, established in 2004, operates as the region’s manufacturing and logistics hub for homegrown, regional, and global customers.
The district houses 350+ operational factories and benefits from proximity to Jebel Ali Port, Al Maktoum International Airport, and an Etihad Rail freight terminal.
Follow us on
