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Dubai business park operator TECOM Group has announced an investment of 340 million UAE dirhams ($93 million) to develop Grade A office spaces in Dubai Internet City with the launch of the new Innovation Hub Phase 3, which is set for completion mid-2027.
The latest announcement will take the group’s total investments to AED 2 billion, which includes the acquisition of new commercial and industrial assets as part of an AED 1.7 billion strategic plan announced in May.
The acquisition of additional land further expands TECOM Group’s managed land leasing portfolio to 179 million sq ft.
(Writing by Bindu Rai, editing by Daniel Luiz)
