Dubai has long been synonymous with luxury – from its towering skyscrapers to its opulent hotels and restaurants. Yet, perhaps nothing captures the emirate’s affinity for exclusivity quite like its thriving fancy number plate market.
Record-Breaking Investments
On Saturday, a Dubai businessman invested an astonishing Dh35 million to acquire the plate DD 5 at a charity auction. While this figure might seem extraordinary, it falls short of the UAE’s most expensive plate sale. That distinction belongs to an anonymous entrepreneur who paid Dh55 million in 2023 for the Dubai vehicle number plate P7 following an intense bidding contest.
This sale surpassed a 16-year record established in Abu Dhabi by Emirati businessman Saeed Abdul Ghafar Khouri, who purchased the number plate 1 for Dh52.5 million in 2008.
A Distinctive Investment Opportunity
“The UAE is one of the only markets in the world where a good plate number is almost like gold,” explains Naim Eyvazov, CEO of Evana Homes and a number plate enthusiast. Originally from Azerbaijan, he notes that he hasn’t encountered a market as competitive as the UAE’s.
“The country has become a haven for storing your funds or part of your economy in a number plate. I have lived in the US and travelled all across Europe. There is no such thing as a business in fancy numbers like here.”
Naim, who manages his business alongside his mother Eva Huri, shares that they consistently attend Emirates Auction events to monitor market trends. “I have always had an eye for fancy numbers, but I never realised what a competitive market it was until we moved to the UAE 12 years ago,” Eva remarked. “You don’t have to study or have a fancy degree to enter this market. If you spot a good plate number, you can snap it up and make good business out of it.”
Status Symbol in a Luxury-Driven Society
With numerous billionaires residing in the UAE, it’s hardly surprising that number plates represent such a substantial market. “It means that they have a taste for luxury,” Naim observes.
“These plates are probably the best accessory you can add to your car, and your car is deserving of an accessory because you drive it every day. Over here, you even drive more than you walk. So, it is worth spending on it. Whether on the roads or at the destinations you go to, a good number plate gives you instant respect.”
He reveals that his own investment in a number plate has yielded impressive returns. “I bought the palindrome number 63363 about eight months ago,” he says. “Today, the price has already tripled. So, it is a really good investment idea as well because the price of number plates will never go down.”
According to Naim’s analysis, the greater the white space on a number plate, the more valuable it becomes. “If you ask me, I would say that the most valuable number plate would be an 11,” he suggests.
Passing Down the Passion
For 13-year-old Abdulkader Walid Asaad, number plates represent more than just status symbols – they’re a family tradition. As the son of an avid collector, he has witnessed his father’s enthusiasm for fancy number plates firsthand. “I have always seen my father being passionate about fancy numbers and that is just in my DNA too,” he explains. “For the last two years, I have been accompanying him to various auctions. Often, I am the youngest in the room.”
Recently, the Grade 8 student and his father successfully bid Dh6.3 million for the number plate DD 24. “Number plates are an identity,” Abdulkader states. “It gives you a status that simply a car cannot. I also have several other number plates as well as fancy phone numbers. It is a passion for my father and me, and I know that this is something I want to continue doing when I grow up.”
As the eldest of three children, Abdulkader hopes his younger siblings will eventually share this interest.
From Aspiration to Achievement
When Indian entrepreneur Amjad Sithara, founder and chairman of the BCC Group, arrived in Dubai in 2008 as a company employee, his priority was simply to manage day-to-day life. Purchasing a luxury car or a premium number plate wasn’t even a consideration at that point.
That changed dramatically when he saw a photo of Sheikh Mohammed bin Rashid Al Maktoum’s Mercedes G-class displaying the number plate 1. “I was just mesmerised,” Amjad recalls. “I knew that one day I wanted to buy that car and a similar number plate.”
By 2010, Amjad had purchased his first vehicle – a Mercedes G-class. “At the time, I only had money for the car, not a fancy number plate,” he says with a laugh. “I could only afford a four-digit number plate. So, I bought the M8598 because that was the only one available. I paid Dh5,000 for it. Today, the value of that plate is Dh25,000. So, it was a good investment.”
Since then, the construction tycoon has collected 12 numbers of the same series. “I have T8594, S8595, U8593, and so on,” he explains. “Starting from 2010, every year I would buy a car and for each car, I would buy a number plate of the same series.”
Last month, Amjad made his most substantial investment yet – a three-digit plate for his newly acquired Rolls Royce. “After years of dreaming, I finally bought a Rolls Royce and for this car, I decided to go the extra mile and get a three-digit number which was an R859,” he reveals. “It cost me Dh450,000. I think of it as a really good investment.”
While his dream of owning a UAE plate bearing the number 1 remains unfulfilled, Amjad achieved this goal in India. “I like to achieve my dreams, so I went to India and bought the exact same Mercedes G-class and a number plate with 1 on it,” he says. “That dream was one of the biggest drives for me to achieve everything I have achieved so far.”
Key Takeaway
Dubai’s premium number plate market represents far more than just vehicle registration – it embodies status, investment potential, and personal aspiration. As values continue to appreciate with some plates selling for tens of millions of dirhams, these prestigious automotive accessories have become legitimate alternative investments in the UAE’s luxury ecosystem.
JobXDubai 
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