Dubai's high-value rental market kept moving through the first eight months of 2026, with 2,046 residential rental contracts worth Dh1 million or more registered between January 1 and August 31. Together these deals were worth Dh6.79 billion, with a median annualised rent across all contracts of Dh1.35 million.
For anyone tracking Dubai's rental market at the top end, the split between new leases and renewals is telling. New leases made up the bulk of activity, accounting for 1,423 contracts, or 69.6 percent of the total, with a median annualised rent of Dh1.30 million. Renewals numbered 623 and carried a higher median annualised rent of Dh1.50 million, suggesting tenants staying put are often doing so at a premium.
Villas versus apartments
Villas led by contract count, with 951 agreements worth a combined Dh2.49 billion and a median annualised rent of around Dh1.12 million. Apartments trailed in volume but not far behind in value, with 531 contracts worth Dh2.41 billion and a notably higher median annualised rent of Dh1.40 million.
Contract length shapes the price
The length of a lease had a clear bearing on its annual cost. One-year agreements were by far the most common, with 1,353 contracts and a median annualised rent of Dh1.65 million. Two-year contracts totalled 299, with a median annualised rent of Dh800,000, while three-year contracts numbered 224 at a median of Dh600,000. Contracts running four years or longer had the lowest median annualised rent, at Dh390,000, reflecting the way longer-term commitments tend to be priced down annually.
Where the deals are happening
Palm Jumeirah recorded 191 high-value residential leasing contracts with a median annualised rent of Dh1.50 million, making it one of the most active areas at this price level. Jabal Ali Industrial First posted 204 contracts with a higher median annualised rent of Dh2.05 million. Hadaeq Sheikh Mohammed Bin Rashid saw 117 contracts at a median of Dh1.30 million, Al Merkadh registered 90 contracts at a median of Dh1.25 million, and Muhaisanah Second recorded 86 contracts with a median annualised rent of Dh1.53 million.
Looking at individual developments rather than broader areas, Palm Jumeirah again stood out with 106 project-level contracts and a median annualised rent of Dh1.70 million. Jumeirah Golf Estates had 38 contracts at a median of Dh1.68 million, and Al Barari recorded 29 contracts at a median of Dh1.30 million. Jumeirah Islands posted the highest median annualised rent among named projects at Dh1.80 million, while IL Primo topped the list at Dh1.95 million.
What it signals for Dubai's rental market
Firas Al Msaddi, CEO of fäm Properties, said the figures show the scale of the upper end of Dubai's rental market and highlight how high-value contracts extend beyond villas and apartments into larger residential-use assets and accommodation categories.
For tenants and landlords watching Dubai real estate this year, the numbers point to a market where premium rentals remain active across both established beachfront addresses like Palm Jumeirah and less obviously glamorous industrial-adjacent areas such as Jabal Ali Industrial First, underscoring that Dubai's Dh1 million-plus rental activity is not confined to a single type of neighbourhood or property.
