Dubai Records 2,046 Residential Rental Contracts Worth Dh1 Million
The contracts, registered between January 1 and August 31, had a median annualised rent of Dh1.35 million.
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New leases accounted for most of the activity, with 1,423 contracts, or 69.6 per cent of the total, compared with 623 renewals.
The median annualised rent for new leases stood at Dh1.30 million, while renewals recorded a higher median of Dh1.50 million.
Villas high-value rental market
Villas represented the largest property category, with 951 contracts worth Dh2.49 billion, at a median annualised rent of around Dh1.12 million.
Apartments accounted for another 531 contracts worth Dh2.41 billion, with a median annualised rent of Dh1.40 million.
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.
One-year leases dominate
One-year agreements accounted for 1,353 of the 2,046 contracts, making them the most common term.
These contracts had a median annualised rent of Dh1.65 million.
Two-year contracts total 299, with a median annualised rent of Dh800,000, while three-year deals totalled 224 at Dh600,000. Contracts of four years or more had a median annualised rent of Dh390,000.
The lower annualized figures for longer contracts reflect the fact that the Dh1 million threshold applies to the total contract value, rather than the annual rent.
Palm Jumeirah among strongest luxury rental hubs
Palm Jumeirah remained one of Dubai's strongest concentrations of high-value conventional residential leasing, with 191 contracts and a median annualized rent of Dh1.50 million.
Among leading areas, Jabal Ali Industrial First recorded 204 contracts with a median annualised rent of Dh2.05 million, while Hadaeq Sheikh Mohammed Bin Rashid recorded 117 contracts at Dh1.30 million.
Al Merkadh registered 90 contracts with a median of Dh1.25 million, while Muhaisanah Second recorded 86 at Dh1.53 million.
Jumeirah Islands, IL Primo among priciest projects
At project level, Palm Jumeirah recorded 106 contracts with a median annualized rent of Dh1.70 million.
Jumeirah Golf Estates followed with 38 contracts at Dh1.68 million, while Al Barari recorded 29 at Dh1.30 million.
Jumeirah Islands recorded a median annualized rent of Dh1.80 million, while IL Primo stood at Dh1.95 million, one of the highest among the named developments listed.
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