DUBAI: TECOM Group PJSC (DFM: TECOM), (the “Company” or the “Group”), the creator of specialised business districts and vibrant communities, announced its financial results for the nine months and the third quarter (Q3) of the year ending 30 September 2024.

The Group reported a record nine-month result, with a 10% year-on-year (YoY) increase in revenue to more than AED 1.7 billion and a 23% YoY increase in net profit to AED943 million.

Underpinned by strong demand from existing and new customers, TECOM Group also reported its record third-quarter performance, with quarterly revenues increasing 12% YoY to AED 611 million and quarterly net profit rising 20% YoY to AED340 million.

"Our record nine-month and third-quarter performance demonstrates TECOM Group’s commitment to delivering sustainable, long-term growth by harnessing Dubai’s pro-business framework,” said Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC.

“We have achieved significant growth in revenue and profitability, driven by high occupancy rates across our diversified portfolio of premium commercial, industrial, and land lease assets. This performance further underscores our ability to attract and retain top companies across six vital sectors. Our prudent financial strategies and proactive cost management initiatives have also contributed significantly to our impressive bottom-line performance and enhanced our shareholder value.”