Top News

Dubai’s luxury property market continues to set new records, with a villa in Emirates Hills leased for a record Dh17 million ($4.6 million), making it the most expensive property ever leased in the emirate.

Dubai-based luxury property and construction development veteran Leann King, who led the vision, renovation and project management of the property alongside her team, said that the one-year lease was signed for the seven-bed villa – referred to as “The Palace” – located on "Billionaire Row" in Emirates Hills.

Leann believes the achievement is the result of an uncompromising commitment to craftsmanship, attention to detail and creating a home unlike any other in Dubai.

“This wasn’t just a brokerage transaction. This project has been years in the making. I was deeply involved in the renovation, development and project management, ensuring every finish, every material and every detail reflected the highest possible standard. Together with my team, we didn’t just renovate a villa – we created a masterpiece,” she said

Rather than accepting the highest offer, Leann revealed she declined multiple proposals, including offers of up to Dh15 million on multi-year leases, because they did not align with the vision or emotional connection we wanted for the property.

“It was never just about the money. We had a number in mind, but more importantly, we wanted the right tenant – someone who truly appreciated the craftsmanship, the timeless design, the one-of-a-kind antiques and the story behind this home. When that person came along, the rest is history.”

“The Palace” in Emirates Hills broke the previous record held by a duplex penthouse in Burj Khalifa, which was rented for Dh12 million annually earlier this year.

Emirates Hills, also known as the “Beverly Hills of Dubai,” has cemented its status as one of the emirate’s most exclusive addresses. The ultra-luxury community is already home to some of the richest people in the UAE and globally.

Dubai – a leading luxury destination

Leann believes the transaction reflects a broader philosophy that has defined her career in Dubai’s luxury property and construction industry.

“We don’t simply buy properties. We acquire, build, renovate and develop masterpieces that redefine luxury and ultimately break records. Every project is approached with passion, precision and an obsession with quality that cannot be replicated.”

She added that the record is another demonstration of Dubai’s position as one of the world’s leading luxury real estate destinations, where exceptional homes continue to attract discerning buyers and tenants from around the globe.

“Luxury is no longer defined by price alone. It’s defined by vision, execution and creating something that simply cannot be copied.”

Leann also believes the achievement reinforces Dubai’s growing position as the global benchmark for ultra-prime real estate.

'Relentless work'

“No matter what challenges the world faces, Dubai continues to attract those seeking excellence, stability and world-class living. My team and I are incredibly proud to play a part in that journey. This transaction demonstrates exactly why the UAE continues to lead the world—it gives people like us the opportunity to dream bigger, create without limits and continually raise the standard.

“I’m a huge believer in the power of manifestation. Every great achievement starts with a vision, followed by relentless hard work, discipline and an unwavering belief that anything is possible. To manage this project from start to finish and secure a place in UAE real estate history is one of the proudest moments of my career," said the industry veteran.

Leann King

“More than anything, this achievement belongs to my team. They aren’t just colleagues- they’re family. Together they have been with me dedicating  countless hours to creating something truly extraordinary, and this record is a reflection of every ounce of passion, commitment and craftsmanship that went into this home,” she added.

“This is only the beginning. We stand proudly alongside Dubai’s leading developers, creating masterpieces that redefine luxury, inspire the industry and, ultimately, break records. If there’s one lesson I’ve learned, it’s this: when you believe wholeheartedly in your vision, surround yourself with the right people and refuse to compromise on excellence, anything is possible,” Leann concluded.

Dubai luxury villa rentals surge as wealthy tenants drive record rents Dubai luxury home sales above $10 million hit record in H1 2026 Dubai’s ultra-prime rental market sets new benchmark with Dh20 million Marsa Al Arab Villa lease