Winner of the Dubai 7 number plate at the charity auction
Winner of the Dubai 7 number plate at the charity auction
Winner of the Dubai 7 number plate at the charity auction
Winner of the Dubai 7 number plate at the charity auction

UAE fills top nine spots on list of world's most expensive licence plates


Ali Al Shouk
  • English
  • Arabic

For most of us, licence plates are an unremarkable feature of our cars, but for some they are a statement of wealth, power and prestige.

In the UAE, eye-popping prices are paid for licence plates with low numbers, unique combinations of letters, and numbers that have personal or cultural significance.

And as a global centre for investors, entrepreneurs and billionaires, the UAE has a long history of being home to some of the most expensive number plates in the world.

In fact, there are many that have sold for millions of dirhams, and often for charitable causes.

Below is a round-up of some of the world's most expensive licence plates sold in the UAE, and the people who bought them.

1. P 7 – Dubai Dh55 million ($15 million)

In April 2023, the world's most expensive car plate was sold to an unnamed Emirati bidder who paid a record Dh55 million for Dubai's number 7 plate after a fierce bidding war at an auction for the One Billion Meals campaign.

The auction, which was held to support efforts to combat global hunger, was held on April 9 at Four Seasons hotel in Dubai.

It's not clear if the new licence plate will be used for a new car or an existing car owned by the winning bidder.

2. 1 – Abu Dhabi Dh52.2m ($14.2m)

Saeed Al Khouri, centre, with the plate he bought in 2008 for Dh52.2 million, with Lt Col Abdul Rahman Al Makali of Abu Dhabi Police, left. Photo: Paulo Vecina
Saeed Al Khouri, centre, with the plate he bought in 2008 for Dh52.2 million, with Lt Col Abdul Rahman Al Makali of Abu Dhabi Police, left. Photo: Paulo Vecina

In 2008, UAE-based businessman Saeed Al Khouri paid 50 times the opening Dh1 million bid at a charity auction in Abu Dhabi. The number plate featured the single-digit number one, which until April 2023 held the record for the most expensive number plate sold.

3. AA9 - Dubai Dh38m ($10.3m)

The AA9 Dubai number plate was sold for Dh38m at the Most Noble Numbers sale in May 2021.

The charity auction, held by the Roads and Transport Authority in Dubai, was selling rare number plates and mobile numbers to raise money for the 100 Million Meals campaign.

4. AA8 – Dubai Dh35m ($9.5m)

In 2022, the AA8 Dubai number plate sold at the Most Noble Numbers auction to raise funds for the One Billion Meals campaign.

The winning bidder is also the unnamed Emirati man who now holds the record for the world's most expensive plate yet sold – Dubai P7.

5. D5 – Dubai Dh33m ($8.9m)

Balvinder Sahni, one of the first businessmen to be granted a 10-year residency visa, paid Dh33 million for Dubai plate D5. Reem Mohammed / The National
Balvinder Sahni, one of the first businessmen to be granted a 10-year residency visa, paid Dh33 million for Dubai plate D5. Reem Mohammed / The National

In 2016, Dubai-based Indian businessman Balvinder Sahni paid Dh33 million for the D5 Dubai plate at an RTA auction.

The car enthusiast said he would put the number on one of his Rolls-Royce cars.

6. 1 - Abu Dhabi Dh31m ($8.5m)

A limited edition No 1 licence plate commemorating Abu Dhabi Government's Golden Jubilee was sold to Abdullah Al Mahri for Dh31 million in 2016.

The auction was organised by Emirates Auction in co-operation with Abu Dhabi Police at Emirates Palace Hotel.

The winning bidder said he bought the coveted license plate in honour of the country's Rulers who worked tirelessly to make the UAE No 1 in the world.

Abdullah Al Mahri paid Dh31 million for his Abu Dhabi No 1 plate. Viddhya for The National
Abdullah Al Mahri paid Dh31 million for his Abu Dhabi No 1 plate. Viddhya for The National

7. 5 – Abu Dhabi Dh25.2m ($6.8m)

In 2007, Emirati businessman Talaj Ali Khouri bought Abu Dhabi No 5 licence plate for Dh25.2 million at an auction organised by the Emirates Auction Company at the Emirates Palace Hotel.

Mr Khouri said he liked the number and that the raised funds would go towards helping traffic accident victims and people with special needs.

8. O9 – Dubai Dh24.5m ($6.8m)

In 2015, Balvinder Sahni successfully bid Dh24.5m for plate O9, and subsequently gave it to a charity that was building a children’s hospital, he told The National in an interview.

9. 7 – Abu Dhabi Dh13.4m ($3.9m)

An unnamed young Emirati businessman bought plate No 7 in 2016 to celebrate the seven emirates, and because seven is a lucky number.

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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.”

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UAE currency: the story behind the money in your pockets
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RESULTS
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Updated: April 16, 2023, 7:00 AM