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Premium Plates LLC sells VVIP Abu Dhabi number plate to British-Syrian businessman
The special plate, 1000, was sold for an undisclosed fee
Premium Plates LLC, one of the leading special number plate dealers in the UAE has sold a VVIP Abu Dhabi plate to Suliman Mulhem, a British-Syrian businessman. The special plate, 1000, was sold for an undisclosed fee, but several plate dealers specializing in the Abu Dhabi market have estimated its current value at approximately Dh 1.2 million to Dh 1.5 million.
Founded in 2016, Premium Plates LLC is a renowned special number plate dealer, serving as an intermediary between UAE residents and investors seeking to buy and sell special number plates.
They primarily trade Dubai and Abu Dhabi plates and operate through a handful of different brands online, such as Hashmi Plates.
Aside from number plates, Premium Plates LLC also trade special Etisalat and DU phone numbers.
The business of number plates in the UAE
Demand for special number plates in the UAE has increased exponentially in recent years, with most of this demand concentrating on Dubai and Abu Dhabi plates.
Such plates are purchased as status symbols and long-term investments by individuals and specialised investment companies.
These special number plates are issued via the RTA and the Abu Dhabi Traffic Department and can then be traded in the secondary market.
Abu Dhabi plates are, on average, 20 per cent to 30 per cent more expensive than the comparable Dubai plate, but there are some exceptions to this rule.
On the other hand, special plates from the Northern Emirates, such as Ajman and Fujairah, can be purchased at a fraction of the price of their Dubai and Abu Dhabi counterparts.
Earlier this year, a new record was set after an Emirati businessman purchased a special Dubai plate, P 7, for Dh55 million at an RTA auction.
Faisal Yadav is a freelance writer.
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