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

ANNUALISED RENT BY CONTRACT TERM

LEADING AREAS

LEADING NAMED PROJECTS AND DEVELOPMENTS