Dubai Records 2,046 Residential Rental Contracts Above $272,000

DUBAI, UAE – Dubai registered 2,046 distinct residential-use rental contracts valued at $272,000 (AED1 million) or more during the first eight months of 2026, with their combined contract value reaching $1.85 billion (AED6.79 billion), highlighting the scale of the market’s top tier.

A market analysis from fäm Properties shows that the contracts registered between 1 January and 31 August had a median annualised rent of $367,600 (AED1.35 million). New leases accounted for the majority of activity, with 1,423 contracts, or 69.6% of the total, compared with 623 renewals, or 30.4%.

Data from DXBinteract reveals that the median annualised rent for new leases was $353,900 (AED1.30 million), while renewals recorded a higher median of $408,400 (AED1.50 million).

One-year agreements dominate high-value rental market

One-year agreements dominated the market, accounting for 1,353 of the 2,046 contracts. Longer contracts naturally recorded lower annualised median rents because the $272,000 (AED1 million) threshold applies to the total contract value, rather than the annual rental amount.

Villas represented the largest property category, with 951 contracts worth $678 million (AED2.49 billion), at a median annualised rent of approximately $305,000 (AED1.12 million).

Apartments accounted for another 531 contracts worth $656 million (AED2.41 billion), with a median annualised rent of $381,200 (AED1.40 million).

Firas Al Msaddi, CEO of fäm Properties, commented:

“The figures underline the scale of the upper end of Dubai’s rental market, while also showing how high-value contracts extend beyond individual villas and apartments into larger residential-use assets and accommodation categories.”

The Dubai Land Department residential-use classification also includes labour camps, which accounted for 520 contracts worth $468 million (AED1.72 billion), at a median annualised rent of approximately $501,000 (AED1.84 million). Smaller categories included buildings, complex villas, staff accommodation, studios and penthouses.

Palm Jumeirah among strongest high-value leasing hubs

Palm Jumeirah remained one of the strongest concentrations of high-value conventional residential leasing, recording 191 contracts with a median annualised rent of $408,400 (AED1.50 million).

Among the leading areas, Jabal Ali Industrial First recorded 204 contracts with a median annualised rent of $558,100 (AED2.05 million), followed by Palm Jumeirah with 191 contracts.

Hadaeq Sheikh Mohammed Bin Rashid recorded 117 contracts at a median annualised rent of $353,900 (AED1.30 million), while Al Merkadh recorded 90 contracts at $340,300 (AED1.25 million).

Muhaisanah Second recorded 86 contracts with a median annualised rent of $416,600 (AED1.53 million), while Me'Aisem First recorded 66 contracts at $476,500 (AED1.75 million).

Among named projects and developments, Palm Jumeirah recorded 106 contracts with a median annualised rent of $462,900 (AED1.70 million). Jumeirah Golf Estates recorded 38 contracts at $457,400 (AED1.68 million), followed by Al Barari with 29 contracts at $353,900 (AED1.30 million).

Dubai Investment Park First recorded 28 contracts at $367,600 (AED1.35 million), Jumeirah Islands recorded 25 at $490,100 (AED1.80 million), The Royal Atlantis Resort & Residences recorded 23 at $367,600 (AED1.35 million), and IL Primo recorded 19 contracts with a median annualised rent of $530,900 (AED1.95 million).