Rental firm also expanding presence in UAE with $16m investment
The UAE’s Fast Rent A Car is considering expanding operations to Egypt as part of a long-term strategy, company executives told MEConstructionNews.com.
The rental firm, which is celebrating its 25th year of operations, is already operating 100 buses in Egypt, group CEO Ahmed Abood said. Fast Rent A Car is planning to increase this to 500 buses within the next 36 months, and is also looking at expanding its car rental operations into the North African nation, he noted.
Within the GCC, the company is looking at Qatar as a potential opportunity, Fast Rent A Car executives said.
Expanding operations internationally takes a lot longer than growing in the same country, noted Tony Hinder, general manager at Fast Rent A Car. “It will come, it just has to come at the right time. And we’re sure you’ll see it in the future very soon,” Hinder told reporters at a media roundtable.
The car rental company currently owns a 7000-car fleet and 21 locations across the UAE. The firm is looking to expand its footprint within the Emirates with an AED60 million ($16.3m) investment in new locations and a Fast Rent a Car ‘super centre’, which will house service and washing facilities as well as a full body repair workshop. The company is expected to announce branch openings in 10 new locations by 2020.
“2016 holds for us opportunities, expansion plans and we look forward to serving the travel needs of our customers for many years to come,” Hinder said.