Dubai’s $120m Office Project by Tecom Group: Internet City to Provide over 3m sq. feet of leasable area

Amid the demand for commercial space, Dubai is witnessing a massive office project construction by Tecom Group. The company started with the project’s second phase, investing a whooping 442 Dirhams (close to 120.35 million dollars). 

Named the Innovation Hub Phase 2, this massive project is set to complete by 2024. Tecom Group operates business districts that house more than 7500 companies. The office project area is close to 355,000 square feet of gross leasable area. The ambitious project will have four boutique hotels, two high-end office buildings, multiple retail spaces, and over 700 parking spaces. 

Abdulla Belhoul, Tecom Group’s Chief Executive, earlier said, “Across our portfolio, existing customers are expanding their operations, complemented by an inflow of new foreign investment. Bespoke solutions as the Innovation Hub address the need for high-quality commercial spaces, helping strengthen Dubai’s position as an attractive global business and talent hub.”

The Emirates economy looks at a massive expansion of almost 4.6 percent annually. This is due to business, financial, and tourism efforts.

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