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Dubai's premium number plate market sees roughly 55,000 transactions a year, according to Mazal's own assessment.
Mazal has launched a digital platform in Dubai that holds buyers' funds in escrow until the ownership transfer of a premium number plate is confirmed, Gulf News reported. It targets a market that has relied on informal deals, independent brokers and manual transfers. The aim is to protect buyers and sellers.
How does escrow work for Dubai number plate sales on Mazal?
On Mazal, a buyer's money is secured as soon as a deal is agreed. The platform keeps those funds and pays them out only after the official ownership transfer is confirmed. Plates are held in Mazal's custody before trading begins, so buyers do not pay on trust alone.
What can buyers do on the Mazal platform?
Buyers can browse listings, join live auctions and close deals in one place. Plates are placed in Mazal's custody before they are made available for trading.
Buyers who prefer to pay in cash are not limited to digital payments. Mazal has partnered with Transguard to handle cash collection.
How does Mazal value number plates?
Mazal assesses plates by transaction history, market demand, rarity and number patterns. The aim is to give buyers and sellers a clearer view of a plate's value and reduce uncertainty.
How big is Dubai's premium number plate market?
According to Mazal's own market assessment, Dubai's premium plate market sees roughly 55,000 transactions a year. It is growing by around 20 percent.
The highest recorded sale is cited at Dh55 million. The market is said to have been worth Dh1.7 billion over three years.
What did Mazal's executives say about the launch?
Abdulla Al Meer, co-founder and chairman of Mazal, said the aim is a transparent journey from start to finish. He said his experience in the industry and its regulatory landscape showed him the need for processes that protect both the asset and the people involved.
Mazal combines verified ownership, secure payments and a transparent transaction journey, he said.
Ahmad Al Nasser, co-founder and CEO, said plates are increasingly valued for their scarcity and long-term potential. He said Mazal provides structure while preserving what makes the market unique.
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