Omar Al Ashi, 24 years of age, may seemingly fit a stereotypical mold of young entrepreneur but his start-up business, URENT, exemplifies nothing but this young man’s brilliance and passion, backed by expertise and his unique business model.
URENT is an online platform that is set to revolutionize the UAE car rental industry which has been consistent for the past three decades. It offers the first ever peer-to-peer vehicle sharing platform in the region, creating a whole community that focuses on building trust between two people, one being the private vehicle owner, the other being the renter. It will also provide UAE residents and citizens with the right to rent vehicles of up to six categories.
The young Chief Executive Officer and Founder takes this evolution into account, announcing his partnership with SEED Group, an association of diversified companies owned by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to launch the platform and make it the first of its kind to be licensed by the Roads and Transport Authority (RTA).
Having the relentless passion for cars and vehicles, Omar combined that with his business knack to come up with a concept that will not only solve many problems that currently exist in traditional rental companies but will ultimately provide opportunities for people to make good use of their vehicles as well as for renters to have easier access to rentals and a more reliable mode of transportation.
“With the support of The Private Office and Mr. 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 Omar Al Ashi, CEO and Founder of URENT.
In selecting the partner to lock the launch and licensing of the app, Omar placed special emphasis on and the high-impact interplay between its partner’s strong link connections and support for business development.
Mr. Hisham Al Gurg, CEO of SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, an automobile enthusiast himself, has been studying the peer-to-peer rental vehicle market for quite a while, and when approached by the URENT concept, he saw that it fits perfectly with the strategy of SEED and The Private Office and was therefore convinced that the time had come to implement the new business model. Consequently, meeting the enormous demand for rented transportation options brought about by the growing number of tourists and expatriates in the UAE that are expected to emanate quickly in the coming years.
"URENT has come in the right place at the right time," said Hisham Al Gurg, CEO of SEED Group and The Private Office. “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. Unlike traditional rental companies adopting the same logistics process, URENT at this point is not going down that road. They are making their own path and we are strongly convinced of its market potential. We are proud to support this leader in its category.”
URENT launched its fully-operating website recently to introduce the concept to the UAE and onboard as many users a possible. The official launch on all platforms will take place on 29 June 2019.
Over the past 16 years, SEED Group has formed strategic alliances with leading global companies representing diverse regions and industries. . The Private Office was established by Sheikh Saeed Bin Ahmed Al Maktoum to directly invest in or assist potential business opportunities in the region, which meet The Private Office’s criteria.