Buyers and sellers of premium Dubai number plates can now complete transactions without relying solely on mutual trust.

A new digital platform, Mazal, has launched to securely hold buyers’ funds from the moment a deal is agreed, releasing them only after the official transfer of plate ownership is confirmed.

The platform is targeting a market that has largely relied on informal transactions, independent brokers and manual ownership-transfer processes.

On Mazal, number plates are placed in the platform’s custody and under its supervision before being offered for sale. Buyers can use a centralised platform to browse listings, participate in live auctions and finalise transactions.

🟢 What does the platform change for buyers and sellers?

Mazal assesses plate values based on factors including transaction history, market demand, rarity and number patterns.

The approach aims to give both parties a clearer picture of a plate’s true value and reduce the uncertainty traditionally associated with the market.

For customers who prefer to pay in cash, Mazal has partnered with Transguard to handle cash collection, ensuring users are not limited to digital payment methods.

🟢 A high-value market

According to the company’s own estimates, Dubai’s premium number plate market records about 55,000 transactions annually and is growing at an estimated rate of 20 per cent.

The highest recorded sale price for a premium number plate in the market is Dh55 million, while the market’s total value over three years is estimated at about Dh1.7 billion.

Abdullah Al Meer, co-founder and chairman of Mazal, said the platform aims to create a transparent process from the beginning to the end of each transaction.

“Given my experience in Dubai’s number plate industry and its legal frameworks, I have seen first-hand how important it is to establish processes that protect both the asset and the people involved in the transaction,” he said.

“Mazal brings these principles together through ownership verification, secure payments and a transparent transaction process,” he added.

Ahmed Al Nasser, co-founder and chief executive of Mazal, said number plates are increasingly being recognised as assets because of their rarity, value and long-term potential.

“Mazal was designed to provide this structure while preserving the characteristics that make this market unique,” he added.