Sheikh Saeed bin Ahmed Al Maktoum, a royal from Dubai, recently invested into Urent, a new digital platform that hopes to change the UAE's car rental market.
Also nicknamed the Airbnb but for car, Urent will be the first person-to-person car sharing platform in the area. This will allow consumers to share their private cars with one another and build a community.
Consumers within the UAE can choose to rent cars from up to six different categories.
Omar Al Ashi, the Founder and CEO of Urent, also announced a partnership with Seed Group, a series of companies that are owned by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to start up this new platform and agree to receive a license to conduct the new business from the Roads and Transport Authority.
Ashi stated that the new platform will help consumers who currently find problems with the car rental market but will also allow residents to use their private cars as a new form of income.
“With the support of The Private Office and Hisham Al Gurg, URENT will set an example for the people of the MENA region and highlight the promising future of the sharing economy and, more importantly, the importance of using existing vehicles,” said Al Ashi.
CEO of Seed Group, Hisham Al Gurg stated that the new platform could meet the already increased demand for rental cars due to the increased amount of tourism within the UAE.
"Urent has come in the right place at the right time," said Al Gurg. “Omar provided us with an excellent presentation on how Urent could make full use of its unique business model as being the region's first Airbnb for cars.”
The new platform has already started up it's own website to begin sharing the platform's plan to the UAE before the official launch at the end of June.
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