Dubai Industrial City Expansion Planned

Tecom Group, a major Dubai landlord, is investing Dh1.6 billion to acquire 138 plots spanning 33 million square feet in Dubai Industrial City. This strategic move aims to meet the increasing demand in the industrial sector. The seller of the plots is Dubai Holding Asset Management, and this acquisition will expand Tecom's land portfolio to over 209 million square feet.

Dubai Industrial City currently boasts a 99% occupancy rate, including land acquired last year. The acquisition aligns with the UAE's strategy to become a global hub for foreign investment, as stated by Abdulla Belhoul, CEO of Tecom Group. The deal will be financed through Tecom's existing resources, with revenue recognition expected within 12-24 months. Since 2024, Tecom's total investments in its commercial and industrial portfolio have reached Dh4.3 billion.

This expansion, managed by Dubai Industrial City LLC, reflects the growing demand for industrial assets. Last year, Tecom purchased 13.9 million square feet of land in Dubai Industrial City, which has been fully leased to major clients across six sectors.