Tecom starts Innovation Hub Phase 2 ...United Arab Emirates

Tecom Group, a developer of sector-focused business districts in Dubai, said it has broken ground on the AED442m ($120m) Innovation Hub Phase 2 Project, which will add more than 355,000 sq. ft. of space at Dubai Internet City, amid high demand for commercial real estate in the emirate. Tecom is expanding its leasing portfolio to capture the increasing demand in Dubai’s commercial real estate market, underpinned by the emirate’s economic development and the government’s pro-growth strategies. The Innovation Hub Phase 2 expands the group’s assets with two high-end office buildings, four boutique offices, retail spaces and more than 800 parking spaces. To be completed by 2024, the Innovation Hu

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