High-value residential-use rental contracts reached AED 6.79 billion in the first eight months of 2026, with Palm Jumeirah remaining a key hub for premium residential leasing.
September 25, 2026 | Riya Malhotra | UAE | Real Estate | 4 Min Read
Image Courtesy: Official Communications
Dubai registered 2,046 residential-use rental contracts valued at AED 1 million or more between January and August 2026, with their combined contract value reaching AED 6.79 billion, according to an analysis by fäm Properties.
The contracts, registered between January 1 and August 31, recorded a median annualised rent of AED 1.35 million, highlighting the depth of activity at the upper end of Dubai’s rental market.
New leases dominated activity, accounting for 1,423 contracts, or 69.6% of the total, compared with 623 renewals, representing 30.4%.
DXBinteract data showed that new leases recorded a median annualised rent of AED 1.30 million, while renewals commanded a higher median of AED 1.50 million.
Villas represented the largest conventional residential property category, with 951 contracts worth AED 2.49 billion and a median annualised rent of approximately AED 1.12 million.
Apartments accounted for 531 contracts valued at AED 2.41 billion, recording a higher median annualised rent of AED 1.40 million.
The Dubai Land Department’s residential-use classification also includes other accommodation categories, including labour camps. These accounted for 520 contracts worth AED 1.72 billion, with a median annualised rent of approximately AED 1.84 million.
Smaller categories within the dataset 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 upper rental market while showing that high-value contracts extend beyond individual villas and apartments into larger residential-use assets and accommodation categories.
Among Dubai’s prime conventional residential locations, Palm Jumeirah recorded 191 high-value contracts, with a median annualised rent of AED 1.50 million.
Jabal Ali Industrial First recorded the highest number among the listed areas, with 204 contracts and a median annualised rent of AED 2.05 million. However, the broader residential-use classification includes accommodation categories beyond conventional luxury homes.
Other leading areas included Hadaeq Sheikh Mohammed Bin Rashid, with 117 contracts at a median AED 1.30 million; Al Merkadh, with 90 contracts at AED 1.25 million; and Muhaisanah Second, with 86 contracts at AED 1.53 million.
Me’Aisem First registered 66 contracts with a median annualised rent of AED 1.75 million.
At the named project and development level, Palm Jumeirah led by transaction count, recording 106 contracts with a median annualised rent of AED 1.70 million.
Jumeirah Golf Estates followed with 38 contracts at a median AED 1.68 million, while Al Barari recorded 29 contracts at AED 1.30 million.
Jumeirah Islands registered 25 contracts with a median annualised rent of AED 1.80 million, while The Royal Atlantis Resort & Residences recorded 23 at AED 1.35 million.
Among the leading named developments listed in the analysis, IL Primo recorded the highest median annualised rent at AED 1.95 million, based on 19 contracts.
One-year agreements accounted for 1,353 of the 2,046 contracts, with a median annualised rent of AED 1.65 million.
Two-year agreements accounted for 299 contracts with a median annualised rent of AED 800,000, while 224 three-year contracts recorded a median of AED 600,000. A further 170 agreements lasting four years or longer had a median annualised rent of AED 390,000.
The lower annualised figures for longer agreements reflect the methodology used in the analysis: the AED 1 million threshold applies to the total value of the contract rather than its annual rental value.
The figures underline the scale and diversity of Dubai’s high-value leasing segment, while Palm Jumeirah’s activity reinforces its position as one of the city’s most established markets for premium residential rentals.
Source: fäm Properties analysis based on DXBinteract and Dubai Land Department data, 21 September 2026.
