The Most Noble Number charity auction, held in Dubai, has raised more than Dh83 million, all of which will be invested to help support the objectives of the Fathers’ Endowment campaign. Wam
The Most Noble Number charity auction, held in Dubai, has raised more than Dh83 million, all of which will be invested to help support the objectives of the Fathers’ Endowment campaign. Wam
The Most Noble Number charity auction, held in Dubai, has raised more than Dh83 million, all of which will be invested to help support the objectives of the Fathers’ Endowment campaign. Wam
The Most Noble Number charity auction, held in Dubai, has raised more than Dh83 million, all of which will be invested to help support the objectives of the Fathers’ Endowment campaign. Wam

News

UAE

Dubai real estate tycoon Binghatti wins bidding war for $9.5m car number plate

Fathers’ Endowment Campaign will benefit to pay for health care and expensive treatments

Nick Webster
Nick Webster

March 16, 2025

  • English
  • Arabic

A charitable auction of rare number plates and mobile numbers has raised Dh83.6 million ($22.7 million) – with a DD5 plate alone commanding a staggering fee of Dh35 million.

At the annual auction to raise funds for the Fathers’ Endowment Campaign, philanthropists and business figures battled it out for some prestigious items, and all for a good cause.

The rare DD5 number plate had a starting bid of Dh15 million and soon attracted more than 20 potential buyers.

That narrowed down to a face-off between businessman Muhammad Binghatti – chairman of Binghatti Holdings - and a 13-year-old schoolboy. One of the youngest taking part, he was reported to be bidding on behalf of his father but lost out to Mr Binghatti. He did manage to pick up the number DD24 for a cool Dh6.3 million.

Rare number plates and mobile numbers were auctioned for charity, raising millions for the Fathers’ Endowment Campaign. Wam
Rare number plates and mobile numbers were auctioned for charity, raising millions for the Fathers’ Endowment Campaign. Wam

Some of the special plate numbers sold for significant sums.

The DD12 number went for Dh12.8 million, while DD15 fetched Dh9.2 million and DD77 was sold for Dh12.6 million.

The charitable initiative was launched by Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, to honour fathers through an endowment fund to provide health care and treatment for those in need.

Held at the Armani Hotel in Burj Khalifa, the auction featured five special number plates, each with unique codes provided by the Roads and Transport Authority. Up for sale were 77, 24, 15, 12, 5 as well as a series of 20 rare mobile phone numbers provided by Etisalat and Du.

A similar auction is being held in Abu Dhabi on Sunday and Monday. The Most Noble Number online charity auction is organised by Abu Dhabi Mobility, as part of the Department of Municipalities and Transport in Abu Dhabi.

The auction features 444 special plate numbers, including those with numbers 20 and 2. Bidders can also buy motorcycle plate number 1 and classic car number plates. Bids can be submitted through the Emirates Auction mobile app, or online.

In 2023, the auction house set a Guinness World Record when plate P-7 fetched Dh55 million. Funds contributed to the 1 Billion Meals Endowment, a project set up to provide a food safety net for millions of people worldwide.

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

While you're here
Whiile you're here
HAJJAN
%3Cp%3EDirector%3A%20Abu%20Bakr%20Shawky%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3EStarring%3A%20Omar%20Alatawi%2C%20Tulin%20Essam%2C%20Ibrahim%20Al-Hasawi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea
The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 1.4-litre 4-cylinder turbo

Power: 180hp at 5,500rpm

Torque: 250Nm at 3,00rpm

Transmission: 5-speed sequential auto

Price: From Dh139,995

On sale: now

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

While you're here
Our commentary on Brexit
Updated: March 16, 2025, 8:51 AM
DubaiAuctionsAbu Dhabi