Dubai’s 'Billionaire Row' villa lands record Dh17 million annual lease
Seven-bedroom mansion commands more than $386,000 every month
DUBAI – Dubai’s ultra-luxury property market has reached another milestone after a seven-bedroom mansion in Emirates Hills was leased for a record Dh17 million ($4.6 million) for one year.
The deal makes the property, known as "The Palace", the most expensive home ever rented in the emirate. It surpasses the previous annual leasing record of Dh15.5 million ($4.2 million), set in 2024 by a waterfront mansion on Jumeirah Bay Island, underlining continued demand for trophy homes in Dubai's super-prime residential market.
Record lease
Located on the prestigious Billionaire Row in Emirates Hills, The Palace is a privately owned ultra-luxury villa that underwent an extensive renovation before being offered to ultra-high-net-worth tenants. The property features seven bedrooms, grand reception and entertainment areas, a large swimming pool, palace-inspired architecture, imported marble finishes and bespoke interiors, along with uninterrupted views of the Montgomerie Golf Course.
Luxury property and construction development specialist Leann King, who oversaw the property's vision, renovation and project management, said the transaction was the result of years of planning and craftsmanship. She revealed that several offers, including proposals worth up to Dh15 million on multi-year leases, were declined in favour of securing a tenant who appreciated the home's design, antiques and overall vision.
The annual lease works out to roughly $386,000, or around Dh1.42 million, per month. On a daily basis, the tenant is paying about $12,700, equivalent to nearly Dh46,500, making it one of the costliest residential rental agreements recorded anywhere in the world.
Luxury demand
Developed by Emaar, Emirates Hills remains one of Dubai's most exclusive residential communities, often compared with Beverly Hills because of its custom-built mansions, expansive plots and exceptional privacy. Unlike waterfront districts such as Palm Jumeirah, the neighbourhood is prized for its exclusivity, low-density planning and high-profile residents, including international billionaires, business leaders and members of royal families.
The latest transaction also exceeds the Dh12 million annual lease achieved earlier this year by a duplex penthouse in Burj Khalifa. It reflects sustained momentum in Dubai's ultra-prime housing market, where homes valued above $10 million continue to attract wealthy buyers and tenants despite limited supply. Luxury villa prices and rental values across Emirates Hills, Palm Jumeirah and Jumeirah Bay Island have risen sharply in recent years as competition for landmark properties continues to intensify.