The number of rental contracts registered in Dubai has crossed the one-million mark for the first time, reaching 1.04 million agreements, a 7.3 per cent rise compared with the previous period, according to fresh figures from the Dubai Land Department. The combined value of those contracts climbed 17.6 per cent to Dh127.4 billion, up from Dh108.3 billion previously, while the annual rental value rose 15.1 per cent to Dh98.9 billion. Of the total, 515,300 were new rental agreements, up 10.5 per cent and worth Dh69.1 billion, while 521,600 contracts were renewals, up 4.3 per cent and valued at Dh58.3 billion. Business Bay topped the list of areas by annual rental value at Dh4.45 billion, a jump of 22.3 per cent, followed by Dubai Marina at Dh3.53 billion and Burj Khalifa at Dh3.52 billion. Looking at total registered contract value instead, Burj Khalifa led with Dh7.61 billion, ahead of Business Bay at Dh5.5 billion and Al Barsha First at Dh4.42 billion. The sharpest growth came from the Racecourse area, up 119.8 per cent, and Al Barsha South Fourth, up 86.5 per cent. The figures point to continued strength in Dubai's rental market, with demand for leased housing climbing fastest in central and commercial districts even as new residential supply continues to enter the market across the emirate.