Dubai Registers 2,046 Residential Rental Contracts Above AED1 Million in H1 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, according to a market analysis from fäm Properties. 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 per cent of the total, compared with 623 renewals, or 30.4 per cent. Data from DXBinteract showed the median annualised rent for new leases was AED1.30 million, while renewals recorded a higher median of AED1.50 million.

New Leases Against Renewals

One-year agreements dominated the market, accounting for 1,353 of the 2,046 contracts. Longer contracts recorded lower annualised median rents, as 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 a further 531 contracts worth AED2.41 billion, with a median annualised rent of AED1.40 million.

Annualised Rent By Contract Term

Firas Al Msaddi, CEO of fäm Properties, said the figures underline the scale of the upper end of Dubai's rental market. "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.

The Dubai Land Department's 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. Among leading areas, Jabal Ali Industrial First recorded the highest contract count at 204, with a median annualised rent of AED2.05 million, followed by Palm Jumeirah, Hadaeq Sheikh Mohammed Bin Rashid, Al Merkadh, Muhaisanah Second and Me'Aisem First.

Leading Areas

Among named projects and developments, Palm Jumeirah led with 106 contracts at a median annualised rent of AED1.70 million, followed by Jumeirah Golf Estates, Al Barari, Dubai Investment Park First, Jumeirah Islands, The Royal Atlantis Resort & Residences and IL Primo.

Leading Named Projects And Developments

Source: fäm Properties