Dubai Financial Market-listed TECOM Group reported a 10% year-on-year increase in net profit to AED 1.22 billion for the first nine months of 2026, compared with AED 1.11 billion in the corresponding period of 2025. Revenue grew 11.1% to AED 2.35 billion from AED 2.11 billion, supported primarily by the group’s property leasing operations, despite a decline in revenue from visa services.
Gross profit increased 13.4% to AED 1.59 billion, while operating profit rose 10.3% to AED 1.44 billion. Profit before tax reached AED 1.26 billion, up 10.4% year-on-year. The gross profit margin improved to 67.6% from 66.3%, while basic and diluted earnings per share increased to AED 0.24 from AED 0.22.
For the third quarter of 2026, TECOM Group generated revenue of AED 808.6 million, representing 11.7% year-on-year growth. Gross profit increased 15.4% to AED 533.9 million, while operating profit rose 12.1% to AED 493 million. Quarterly net profit reached AED 416.6 million, up 11.6% from AED 373.2 million in Q3 2025.
Operating lease income increased 14.3% to AED 2.10 billion during the nine-month period, compared with AED 1.84 billion a year earlier. The group maintained stable occupancy levels and rental performance despite regional geopolitical uncertainty. TECOM operates across property leasing, development, facilities management and business services, including its portfolio of specialised business districts in Dubai.
Total assets reached AED 18.19 billion as of September 30, 2026, increasing 6% from AED 17.16 billion at the end of 2025. Investment properties rose to AED 16.19 billion from AED 15.17 billion, supported by additions and development activity. Total equity increased to AED 8.24 billion, while total liabilities stood at AED 9.95 billion.
Net cash generated from operating activities increased 11.5% to AED 1.71 billion from AED 1.53 billion. Meanwhile, net cash used in investing activities rose to AED 1.56 billion from AED 882.6 million, reflecting increased expenditure on investment properties and ongoing developments. Cash and cash equivalents stood at AED 180.9 million at the end of September, alongside AED 228.8 million in bank deposits.
TECOM Group declared and paid AED 880 million in dividends during the first nine months of 2026, compared with AED 800 million in the corresponding period of 2025. Bank borrowings increased to AED 5.8 billion from AED 4.95 billion at the end of 2025, following an additional AED 850 million drawdown. The group also maintained AED 1.8 billion in undrawn borrowing facilities to support its operations and investment commitments.
The results reflect continued growth in TECOM Group’s leasing business, expanding investment property portfolio and stronger operating cash generation. The company remains focused on developing its existing assets and supporting demand for commercial and industrial space across Dubai’s specialised business districts.
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
