TECOM Group PJSC, the developer behind Dubai’s network of business districts, is expanding its footprint with Phase 4 of the Innovation Hub in Dubai Internet City, a $167.4 million development designed to cater to surging demand for Grade-A office spaces from global technology leaders.

Spanning 263,000 sq. ft. of gross leasable area (GLA), the new phase reinforces Dubai Internet City’s role as the region’s premier innovation ecosystem and brings TECOM Group’s total investment in the Innovation Hub to $544.5 million, as reported by Emirates News Agency.

The project builds on the momentum of earlier phases — with Phase 3 fully leased ahead of its 2027 completion and Phase 2 fully occupied by Fortune 500 companies and digital economy players. Phase 1 continues to host global names such as Google and Gartner, solidifying the Hub’s reputation as a launchpad for multinational tech firms in the Middle East.

Set for completion in 2028, Phase 4 will further expand TECOM Group’s portfolio of high-quality commercial assets and strengthen its ability to meet the evolving needs of Dubai’s fast-growing digital economy.

“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. 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,” said Abdulla Belhoul, CEO of TECOM Group. 

“Our healthy liquidity and strategic roadmap for sustainable growth ensure we are well-placed to capitalize on favorable 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 plans to self-finance the development while maintaining a strong liquidity position. The announcement comes on the heels of TECOM Group’s strong financial performance in 2025, with revenues surpassing $571.8 million (a 20% year-on-year increase) and net profit exceeding $299.5 billion, up 18% compared to 2024.

As Dubai deepens its focus on innovation-led growth, TECOM Group’s latest expansion underscores how real estate and infrastructure investment are evolving to support the city’s ambitions of becoming a global hub for technology and entrepreneurship.