Dubai records 2,046 residential rental contracts worth AED1 million or more in eight months

Dubai registered 2,046 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, according to an analysis by fäm Properties.

The contracts, registered between January 1 and August 31, had a median annualised rent of AED1.35 million, highlighting activity at the upper end of Dubai’s residential rental market.

New leases account for most activity

New rental agreements made up the majority of high-value contracts during the period, with 1,423 contracts, or 69.6 per cent of the total. Renewals accounted for 623 contracts, representing 30.4 per cent.

According to DXBinteract data cited in the analysis, new leases recorded a median annualised rent of AED1.30 million, while renewals had a higher median of AED1.50 million.

One-year agreements were the most common, accounting for 1,353 of the 2,046 contracts.

The analysis noted that longer-term agreements can have lower annualised rents because the AED1 million threshold refers to the total contract value, rather than the annual rental amount.

Villas lead property categories

Villas accounted for the largest number of conventional residential contracts, with 951 agreements worth AED2.49 billion. Their median annualised rent was approximately AED1.12 million.

Apartments recorded 531 contracts worth AED2.41 billion, with a median annualised rent of AED1.40 million.

The Dubai Land Department's residential-use classification also includes other accommodation categories. Labour camps accounted for 520 contracts worth AED1.72 billion, with a median annualised rent of approximately AED1.84 million.

Other categories included buildings, complex villas, staff accommodation, studios and penthouses.

Firas Al Msaddi, CEO of fäm Properties, said the figures demonstrate the scale of Dubai’s high-value rental segment.

“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,” he said.

Palm Jumeirah among key high-value leasing hubs

Palm Jumeirah remained one of the strongest concentrations of high-value conventional residential leasing during the period.

The area recorded 191 contracts, with a median annualised rent of AED1.50 million.

The data provides a snapshot of Dubai’s premium rental market during the first eight months of 2026, covering both new leases and renewals across multiple residential-use categories.