The international holding company Tecom Group announced a historic achievement of an income of 2.4 billion dirhams for the financial year ending December 31, 2024. This represents an 11% increase compared to the previous year. Net profit grew by 14% and amounted to 1.2 billion dirhams in the same financial year.
The occupancy rate of commercial assets was 90%, confirming stability and a successful retention of clients at a level of 91%. The chairman of Tecom Group, Malik al-Malik, noted that these results reflect the strength and resilience of the UAE and Dubai's economy. The company plans to continue its successful growth trajectory through the expansion of its asset portfolio and enhancing operational efficiency.
Tecom Group CEO Abdallah al-Hula emphasized that investments totaling 2.7 billion dirhams for 2024 are directed towards supporting the sustainable growth of the company. The income level before tax and amortization grew to 77%, which became a key factor for the 14% increase in net profit.
To support the sustainability growth strategy, Tecom Group continues to invest in business development and improving conditions for clients. The company is actively expanding its operations in various sectors, including commercial and industrial real estate, demonstrating sustainable financial growth and attractiveness for investors.
