Dubai registers 2,046 residential-use rental contracts above AED1million in first eight months of 2026

Palm Jumeirah remains among strongest hubs for high-value residential leasing,  fäm Properties analysis shows 

Dubai, UAE, 21^st September 2026: Dubai registered 2,046 distinct residential-use rental contracts valued at AED1 million or more during the first eight months of 2026, with their combined contract value reaching 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 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 AED1.30 million, while renewals recorded a higher median of AED1.50 million.

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 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 AED2.49 billion, at a median annualised rent of approximately AED1.12 million. Apartments accounted for another 531 contracts worth AED2.41 billion, with a median annualised rent of 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 AED1.72 billion, at a median annualised rent of approximately AED1.84 million. Smaller categories included buildings, complex villas, staff accommodation, studios and penthouses.

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

NEW LEASES AGAINST RENEWALS

Lease	Contracts	Share	Median annualised rent
New	1,423	69.6%	AED 1.30m
Renewal	623	30.4%	AED 1.50m

ANNUALISED RENT BY CONTRACT TERM

Term	Contracts	Median annualised rent
1 year	1,353	AED 1.65m
2 years	299	AED 800k
3 years	224	AED 600k
4+ years	170	AED 390k

LEADING AREAS

Area	Contracts	Median annualised rent
Jabal Ali Industrial First	204	AED 2.05m
Palm Jumeirah	191	AED 1.50m
Hadaeq Sheikh Mohammed Bin Rashid	117	AED 1.30m
Al Merkadh	90	AED 1.25m
Muhaisanah Second	86	AED 1.53m
Me’Aisem First	66	AED 1.75m

LEADING NAMED PROJECTS AND DEVELOPMENTS

Project / Development	Contracts	Median annualised rent
Palm Jumeirah	106	AED 1.70m
Jumeirah Golf Estates	38	AED 1.68m
Al Barari	29	AED 1.30m
Dubai Investment Park First	28	AED 1.35m
Jumeirah Islands	25	AED 1.80m
The Royal Atlantis Resort & Residences	23	AED 1.35m
IL Primo	19	AED 1.95m