Burj Khalifa Duplex Rented For Dh12 Million Annually, 'Sets UAE Lease Record'

Dubai's luxury real estate market has hit a new high, with a duplex penthouse in the Burj Khalifa leased for Dh12 million annually. Property management and technology platform Keyper, which facilitated the deal, described the lease as the "highest recorded annual apartment rental in the UAE".

The residence, owned by Karl Haddad, spans the 87th and 88th floors of the world's tallest tower and sets a new benchmark for ultra-prime leasing in Dubai and globally, the company said.

Spanning more than 10,000 square feet, with plans to expand to nearly 15,000 square feet, it is currently the largest residence in the tower, according to Keyper. It is also the only unit with a private outdoor pool and the only duplex, the company added.

The penthouse includes a 2,000 square foot terrace overlooking Dubai's skyline, a 2,500 square foot master suite, a 1,000 square foot private cinema, as well as a spa, sauna and gym, according to details shared by Keyper. Interiors feature Patagonia marble, Alcantara-lined ceilings, and a 45-speaker Bang and Olufsen sound system.

The property is one of the most structurally unique homes in the tower, according to Haddad. Created by merging multiple units "into a single vertical estate", the transformation took more than six years to complete, including over three years to secure approvals,. Concrete slabs were drilled to install a private internal staircase, making it the only duplex residence in the building, according to Haddad.

“This property is unlike any other in the tower. On a personal level, this reinforces why I continue to invest and operate here. Dubai has built an ecosystem where ambition is protected, capital is respected, and confidence is sustained, even in the most testing moments.”

The deal comes at a time of heightened regional uncertainty, with demand at the top end of the market remaining resilient, according to Keyper.

“In times of volatility, capital does not retreat, it becomes more selective. It seeks environments defined by stability, security, and long-term vision. Dubai continues to command that trust,” Haddad said.

Keyper's co-founder and CEO Omar Abu Innab said the deal reflects a shift in demand among ultra-high-net-worth tenants.

“Ultra-high net worth individuals are prioritising flexibility without compromising scale, privacy, or prestige. A Dh12 million annual lease would have been unthinkable just a few years ago. Today, it reflects the growing sophistication of Dubai's ultra-prime rental market,” he said.

While eight-figure property purchases have become more common, eight-figure annual leases remain rare, according to Keyper, placing the residence among a small number of comparable global properties.

The transaction underscores continued international interest in Dubai's property market, even as other global markets face uncertainty, the company said.

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