Classic Cars in the Gulf: A Passion Beyond Hobby to Investment

In a scene where the passion for heritage intersects with investment calculations, the classic car market in the Gulf region is experiencing a remarkable renaissance, manifested in thriving auctions, popular festivals, and rare acquisitions that reflect a deep love of the past.

This interest is no longer merely an elite hobby; it has transformed into a growing economic sector driven by emotion and rarity, supported by a strong financial environment and a growing awareness of the value of alternative assets.

The global classic car market is expected to reach $51.3 billion by 2028, compared to approximately $31 billion in 2021, confirming its growing momentum, according to estimates by Credence Research, a company specializing in this sector.

From the UAE, which seeks to become a global hub for these cars, to Saudi Arabia, which hosts massive heritage festivals, and Kuwait, which has become a beacon for collectors in the Gulf, classic cars have become part of a cultural and investment identity rooted in memory and looking to the future with confidence and elegance.

A Growing Market in the UAE

A recent report by Credence Research indicates that the classic car market in the UAE is expected to grow at an annual rate of 4.5%, reaching $1.8 billion by 2032, driven by growing interest from collectors and the region's growing wealth.

The UAE hosts numerous events for this type of car, such as the Mille Miglia, or "Thousand Miles" race, which brings together 100 classic cars worth $150 million. This Italian classic car race is considered one of the most famous in the world.

Unique Stories from Saudi Arabia

In Saudi Arabia, the fourth "Classic Qassim" Festival in 2024 featured a collection of unique stories of vintage cars dating back to the early 20th century. More than 300 rare models participated in the annual heritage auction.

The Museum of Historical, Antique, and Classic Cars in Kuwait is considered one of the most prominent landmarks dedicated to classic cars.

Located in the Shuwaikh Industrial Area of ​​Kuwait City, the museum houses a diverse collection of cars from different eras, allowing visitors to explore the evolution of the automotive industry over the decades.