Emirates Hills Villa Leased for AED17 Million a Year

Dubai’s ultra-prime rental market has reached a new benchmark after a villa in Emirates Hills was leased for AED17 million a year.

The seven-bedroom mansion, known as “The Palace”, is located on Billionaire Row in Emirates Hills and has been reported as one of the most expensive residential leases recorded in Dubai.

The one-year lease reflects the continued strength of demand for rare, fully finished luxury villas in the emirate’s most established gated communities. Emirates Hills remains one of Dubai’s most exclusive residential addresses, known for large plots, bespoke mansions, privacy and proximity to Montgomerie Golf Club.

Dubai-based luxury property and construction specialist Leann King led the vision, renovation and project management of the villa before the lease was secured. The property was positioned not simply as a rental home, but as a highly customised luxury residence designed around craftsmanship, interiors and exclusivity.

King said the transaction was not only about securing the highest offer, but about finding the right tenant for the property. She also said multiple proposals were declined before the final lease was agreed.

The transaction comes as Dubai’s luxury rental market continues to attract high-net-worth individuals, global entrepreneurs and relocating families seeking large-format homes in prime communities. For some tenants, ultra-prime leasing offers flexibility before making a long-term purchase decision in a market where exceptional villas remain limited.

Emirates Hills has long been considered one of Dubai’s most prestigious villa districts, supported by its mature landscaping, gated setting and individually designed homes. Unlike newer master communities with standardised layouts, the area is defined by bespoke residences, many of which sit on large plots with golf course or lake views.

The AED17 million lease further reinforces Dubai’s position as a global luxury real estate market, where demand is no longer limited to high-value sales. The rental segment is also seeing record-setting activity as wealthy residents and international tenants look for turnkey homes that offer privacy, scale and immediate occupancy.

For Dubai’s broader property market, the deal shows how the emirate’s ultra-prime segment is maturing beyond transactions alone. Luxury leasing is becoming an increasingly important part of the market, particularly for globally mobile residents who want access to Dubai’s top communities without immediately committing to ownership.

Source: Khaleej Times