UAE’s Udrive expands to KSA, shifting car ownership to car sharing

UAE’s Udrive expands to KSA, shifting car ownership to car sharing

Dubai, United Arab Emirates (UAE), Udrive, a dedicated pay-per-minute and daily car rental platform, today announced its expansion into Saudi Arabia to serve its widening customer base, gearing the company for triple-digit-percentage growth and accelerated profitability in the Gulf region over the next 12 months.

The new operations are being set in line with the increasing demand from residents, tourists, students and startups in the kingdom for greater choices and convenience in mobility at affordable prices.

Udrive's shared mobility model supports Saudi's Vision 2030 for greener mobility. Nine out of 10 people (92%) in Saudi Arabia currently use a privately owned vehicle to go to work or school, leading to reduced air quality, significant traffic congestion and decreased urban livability.

The traditional car rental market in KSA, the highest populated country and the largest economy in the six-nation Gulf Cooperation Council (GCC), is valued at approximately US$1 billion and forecast to reach $1.18 billion by 2026 .

Udrive will first launch in the Saudi capital city of Riyadh, the 40th largest city economy worldwide at present and gearing to become the 10th by 2030. With the city's population forecast to nearly double this decade, from 7.2 million to 15 million by 2030, Riyadh has