Page 121 - RED HAT PR REPORT - OCTOBER 2024

10/22/24, 11:55 AM TECOM Group Finalizes AED 720 Million Acquisition
Abdulla Belhoul, Chief Executive Officer of TECOM Group PJSC remarked.

The transaction is consistent with TECOM’s strategy of growing its portfolio of high-end assets to take

SHARE advantage of the growing demand for grade A offices in Dubai, as facilitated by key initiatives like the
Dubai Economic Agenda ‘D33’.

According to TECOM, the results of the Office Park acquisition will be beneficial to its operations from
the fourth quarter of 2024. They will allow the Group to achieve stable income and creation of value.

The acquisition was funded through TECOM’s internal financial resources and credit facilities which

emphasize its robust financial standing.

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