The identity of the lucky Dh100-million jackpot winner on Saturday, October 18, is yet to be revealed as of this writing, and people are very eager to know what he/she will do with the staggering financial windfall.
It’s definitely aspirational – hitting it big and finding a newfound wealth – it sure means more than financial freedom. On the other hand, some feel it can also be a curse, if you lack financial knowledge and blow out your money with poor investments, overspending, and even fall prey to investment scams.
Winning the lottery is always a stroke of luck, but what you do with the money requires discipline, strategy, and being methodical. Take it from Junaid Rana, who won the Dh50-million grand prize from Mahzooz draw four years ago, back in October 2021. It was the biggest such lottery prize that time in the Middle East.
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Junaid, a Pakistani expat, was only 36 when he hit the jackpot. He worked as a corporate driver who earned Dh6,000 per month. On the day he picked the winning ticket, he was on a grocery run and, instead of buying some snacks, used his money to buy a ticket. He did not think of birthdays, anniversaries, or lucky numbers but selected numbers randomly and got the winning digits (6, 11, 21, 32, 33, 46).
On the night of the draw, after he learned he won, he described his feelings: “I felt like the ground had fallen out from under my feet.” Two days later, he was presented by Mahzooz to UAE-based reporters.
He appeared a little nervous but very ecstatic, and there was some confidence in his voice when he appeared before journalists and answered all their questions.
He said he had been daydreaming for some months about what he would do if he won millions. He added: “I never dreamt of getting expensive things. I am a simple man and I’m just happy.”
He had a Dh100,000 loan at that time and it was his plan to clear it immediately. He also took care of his brother’s loan, and offered to sponsor his barber’s wedding.
More importantly, one of the first things he did was to secure his family’s future. He bought a house for his family in Dubai and in Pakistan.
He also deposited his money in a UAE bank and it actually made him win another grand prize. In August 2022, he won a Mercedes AMG G63 G Wagon valued at Dh1.36 million from Emirates NBD Mega Savings. It was his second luxury vehicle after he initially bought his dream sports car – a Nissan GTR.
Junaid kept on winning but not only from draws or lotteries. He used his money wisely and he made solid investments that fetched higher yields than putting his money in a long-term bank deposit.
A year after he won Dh50 million, Junaid was already sitting on a number of real estate investments that fetched more than Dh50,000 monthly income from rent alone. He also purchased multiple villas and apartments in Dubai and built a villa back in his hometown in Islamabad.
When Khaleej Times spoke to him two years ago, Junaid, who has four children, said he and his family was living in a four-bedroom townhouse in Al Furjan. “My priority was to secure my children’s future,” he said, and invested his money in businesses that he was familiar with, including a surgical supply business and a snooker club in Pakistan.
Junaid did not shy from sharing that he also had some bad experiences because of the win. “I have given money to all my distant relatives. But even then, there were some negatives,” he said, adding he took things in stride and only focused on the positives.
Junaid remained humble. He felt uneasy hearing people call him boss. “I used to be a salaried employee and called other people boss. When my employees in Pakistan started calling me boss, it was a little strange. I try to treat my employees like my brothers,” he said.
When Khaleej Times last spoke to him, he felt at peace and said: “Allah has blessed me with this wealth. Every time I call my mother, she sounds so happy and prays for me. I am content.”
Meanwhile, Mahzooz ceased its operations since January 1, 2024 in compliance with a directive issued by the Gaming Regulatory Authority (GCGRA) in the UAE; a federal body set up in September 2023. The UAE Lottery is the first and only official lottery in the country regulated by GCGRA. Managed by The Game LLC, UAE Lottery’s first draw was held on December 14, 2024.
