Dubai's Mazal app launches escrow marketplace for premium number plates

Mazal, a Dubai-based app, is introducing an escrow-backed online marketplace for premium vehicle number plates, which it holds out as a first in the UAE. 1 2 Under the model, buyers' funds are held from the moment a deal is agreed and released only once the official ownership transfer is confirmed. 1 2 The market has traditionally relied on informal transactions, independent brokers and manual transfers; The National adds that social media was a common sales channel. 2 1

Plates are placed in Mazal's custody before being listed, and users can browse listings, join live auctions and close deals on the platform. According to Gulf News, the platform assesses plates on transaction history, market demand, rarity and number patterns. 2 Mazal has partnered with Transguard to handle large cash transactions, so clients are not limited to digital payments. 1 2 The National reports that users start a sale or purchase with a unique QR code, with transaction fees held in escrow, and that Mazal charges a 5 per cent brokerage fee on each sale. It also says the platform aligns with Roads and Transport Authority regulations. 1

Market figures come from the company's own assessment: both outlets cite growth of about 20 per cent a year and Dh1.7 billion in transactions over three years, with a top price of Dh55 million. Gulf News adds roughly 55,000 transactions a year. 1 2 Abdulla AlMeer, chairman, says Mazal is the first UAE system for securely transacting plates between two people; he has worked on the project for 13 years and is a 21-year government employee, according to The National. Ahmad Al Nasser, co-founder and CEO, says plates are increasingly recognised for scarcity, value and long-term potential, and that Mazal gives the market structure while preserving what makes it unique. 1 2 The National lists benchmark sales: Dubai's record plate, P7, sold for Dh55 million at auction in 2023; Abu Dhabi's number 1 sold for Dh52.2 million in 2008; AA9 fetched Dh38 million in 2021; and DD6 sold for Dh37 million in March 2026. 1