Dubai-based TECOM Group has announced plans to invest $167.5 million (AED 615 million) to launch Phase 4 of the Innovation Hub at Dubai Internet City.
The group stated that the investment aims to address the rising demand for Grade-A office space from global technology firms and multinational companies.
According to a statement issued by the company, Phase 4 will add 263,000 square feet of gross leasable area to the project, further strengthening Dubai Internet City’s position as the region’s leading technology hub.
With the implementation of this phase, TECOM Group’s total investment in the Innovation Hub project is set to reach approximately $544.6 million (AED 2 billion).
