The international group "Tikom", operating on the Dubai stock exchange and specializing in key sectors of activity, announced the achievement of historic revenues amounting to 2.4 billion dirhams last year, which corresponds to an increase of 11% compared to the previous year. Net profit also rose by 14% to 1.2 billion dirhams for the financial year ending December 31, 2024, due to record revenues and strong performance across all business sectors.
"Tikom" noted that these results reflect the success of its strategy for continued sustainable growth through systematic portfolio expansion, improved operational efficiency, and support for high client load levels in 2024. The group’s board of directors recommended paying dividends totaling 400 million dirhams (all shares on the stock) for the second half of 2024, after consultation with the countries at a general assembly scheduled for March 10, 2025.
Group performance increased due to a 5% rise in year-to-year load, reaching 94%, and high client retention rates at 92%, coupled with an increase in rental income. The value of assets, assessed by independent consulting firm CBRE, reached 28 billion dirhams by December 31, 2024, up 11% compared to 2023.
The head of "Tikom" Malik al-Malik emphasized that the strong results of the group for 2024 highlight the economic strength and flexibility of the UAE and Dubai, emphasizing the group’s tradition of economic development focusing on attracting leading global companies and experienced specialists in six key strategic sectors.
The group's general director, Abdullakh al-Bakhal, confirmed that Dubai and the UAE continue to demonstrate stable growth in commercial real estate and industry, supported by significant growth outside the oil sector. For 2024, the group’s client base grew by 8%, reaching 11,900 clients.
