Shoreline Apartments: March to May Rental Review
The Long-term Lease Market since 28 February 2026.
Gareth Davies - Award Winning Broker and Property Consultant
The latest rental data for Shoreline Apartments, Palm Jumeirah shows a clear dip in new leasing activity immediately after February, coinciding with the start of the USA-Israel/Iran conflict on 28 February 2026. However, the subsequent pattern was not straightforward. While March showed weaker tenant activity, April improved after the ceasefire from 8 April, and May then recorded the strongest leasing volume in the period reviewed, but at a much lower average rent per sq.ft.
Data Source: Property Monitor
According to the monthly summary, Shoreline Apartments recorded 25 new tenancy contracts in February 2026, at an average agreed rent of AED 127.96 per sq.ft. In March 2026, new tenancy contracts fell to 19, a decline of 24% month-on-month. Average rent was almost unchanged, at AED 127.84 per sq.ft.
This suggests that the immediate post-February effect was more visible in leasing volume than in achieved rents. Tenant activity slowed, but the deals that were completed in March were still agreed at broadly similar AED/sq.ft levels to February.
In April 2026, after the reported ceasefire from 8 April, leasing activity improved to 24 contracts, almost back to February’s level. Average rent also increased to AED 137.67 per sq.ft, the second-highest monthly figure in the review period. On the face of it, April appeared to show a short-term recovery in both transaction volume and pricing. However, the average rent (AED/sq.ft) increased in April mostly because more people rented newly renovated or upgraded apartments.
However, the May figures changed the picture again. Shoreline recorded 42 new tenancy contracts in May 2026, the highest monthly total in the dataset, but average rent dropped sharply to AED 114.71 per sq.ft, the lowest monthly average recorded during the past six months. This suggests that although more apartments were leased in May, they were agreed at significantly lower rents per sq.ft.
From October 2025 to February 2026, Shoreline Apartments averaged approximately 32 new tenancy contracts per month. In March and April 2026, that average fell to 21.5 contracts per month, around 33% lower than the earlier monthly average.
By May, leasing volumes had recovered strongly, but the recovery came with a notable reduction in rent. Average rent fell from AED 137.67 per sq.ft in April to AED 114.71 per sq.ft in May, a decline of approximately 16.7% in one month.
This may indicate that landlords became more flexible on pricing in order to secure tenants, or that the mix of apartments leased in May changed significantly. Shoreline Apartments includes different buildings, views, sizes, and beach-side or park-side positions, so monthly AED/sq.ft averages can be affected by the type and quality of units leased in each month.
The data therefore points to a market that did not simply collapse after February. Instead, Shoreline saw an initial slowdown in March, a partial rebound in April, and then a strong increase in leasing activity in May at lower average rents. The most important signal may be that demand returned in May, but at more price-sensitive levels.
Beachside : Parkside.
Generally there have been larger rental discounts agreed by landlords on the Park-side of Shoreline than on the Beach-side. The main reason for this that many tenants have offered lower rents because of the loss of amenities and intrusive construction noise during the proposed year-long renovation of Ittihad Park.
The improvement in leasing activity during April has been partly due to the effect of the ceasefire but also rent discounts or multiple-cheques payment plans being offered by some landlords. This is a pattern which is consistent with a market adjusting form the initial wait-and-watch pause.
Rents Registered at Ejari for New Tenants.
Type J : 1-Bedroom. Parkside.
Source: Property Monitor
Type B : 1-Bedroom. Beachside.
Data source: Property Monitor
Type B : 1-Bedroom. Parkside.
Data source: Property Monitor.
Type D : 2-Bedrooms. Beachside.
Data source: Property Monitor
Type D : 2-Bedrooms. Parkside.
Data source: Property Monitor
Type E : 2-Bedrooms. Beachside.
Data source: Property Monitor
Type E : 2-Bedrooms. Parkside.
Data source: Property Monitor
Type F : 2-Bedrooms. Beachside.
Data Source: Property Monitor
Type F : 2-Bedrooms. Parkside.
Source: Property Monitor
Type A : 3-Bedrooms. Beachside.
Data source: Property Monitor.
Type A : 3-Bedrooms. Parkside.
Source: Property Monitor
Type C : 3-Bedrooms. Beachside.
Data Source: Property Monitor
Type C : 3-Bedrooms. Parkside.
Data Source: Property Monitor
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