Dubai number plate buyers get escrow protection with new platform

Anyone buying or selling a premium Dubai number plate will now have a way to complete the deal without handing over money on trust alone. Mazal has launched a digital platform where buyers' funds are held securely from the moment a deal is agreed and released only once the official ownership transfer is confirmed.

The launch targets a market that has traditionally depended on informal transactions, independent brokers and manual ownership transfers. On the platform, plates are placed in Mazal's custody before they are made available for trading, giving buyers a centralised place to browse listings, take part in live auctions and close deals..What it means for buyers and sellersMazal's platform assesses plates against transaction history, market demand, rarity and number patterns, aiming to give both sides a clearer picture of what a plate is worth and cut down the uncertainty that has historically surrounded these sales.

For those who prefer to pay in cash, Mazal has partnered with Transguard to handle cash collection, so clients are not forced into digital-only payments..A market worth protectingAccording to the company's own market assessment, Dubai's premium plate market sees roughly 55,000 transactions a year and is growing by around 20 percent. The highest recorded sale is cited at Dh55 million, and the market is said to have been worth Dh1.7 billion over three years.

Abdulla Al Meer, co-founder and chairman of Mazal, said the aim is a transparent journey from start to finish. "With my experience in Dubai's number plate industry and its regulatory landscape, I have seen first-hand the importance of creating processes that protect both the asset and the people involved in a transaction," he said. "Mazal brings these principles together through verified ownership, secure payments and a transparent transaction journey."Ahmad Al Nasser, co-founder and CEO, said plates are increasingly recognised for their scarcity, value and long-term potential. "Mazal is designed to provide that structure while preserving what makes this market unique," he said..Dubai RTA to auction 150 premium number plates from July 27.