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The UAE leasing at USD 1,020.19 million in terms of value in 2023, and it is projected to advance with a CAGR of 9.44% in the forecast period to reach USD 1,727.48 million in the year 2029.
UAE leasing market is anticipated to project robust growth in the forecast period on account of increasing demand for car leasing, rising number of commercial activities, government initiatives, etc.
However, in 2022, there has been a rapid increase in rent by around 25% in the majority of districts, making it unsustainable. This has been a huge impact on affordability and has made it harder for tenants to renew their lease. This factor could hamper the market growth.
On Demand Mobility
Companies are focusing on offering car leasing financial services where consumers can lease a brand-new car for a year. They could also exchange those vehicles for a new one each year. It is now simpler for customers to subscribe to vehicles since companies have acknowledged the viability of having on-demand services and have in many ways equated it to car ownership and its liabilities. For instance, in 2022, Surface monthly charge, there are no down payments. These financial leasing services claim to be a hassle-free alternative to car ownership. Such factors are anticipated to further expand the market growth of the leasing market in the forecast period.
Government Initiatives
The UAE government has been taking several initiatives to improve the leasing services, which is further encouraging consumers to opt for such services. This is significantly contributing to the overall growth of the market. For instance, in 2022, The Dubai Land Department confirmed its agreement with Emirates NBD to start the Process of taking annual lease payments directly out of tenants' bank accounts. Previously, big developer-landlords charged an extra cost to tenants who requested direct debit. This change also offers support for the UAE's proposal to decriminalize most components of a bounced check. This factor is projected to fuel the market growth of leasing during the forecast period in UAE.
New Players Entering Market Fueling the Market Growth
The UAE leasing market has been observing an increase in the number of market players over the past couple of years. For instance, in 2022, a new fintech startup was launched in UAE and Saudi Arabia markets, named Five FS. The company aims to offer customers free access to five financial services, including loans, mortgages, deposits, insurance, and leasing. Hence, this factor is anticipated to further boost the market growth during the forecast period.
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Market Segmentation
The UAE leasing market is segmented based on lease type, provider type, tenure period, end users, region, and competitional landscape. Based on lease type, the market is fragmented into commercial vehicle lease, heavy equipment lease, plant and machinery lease, real estate lease. Based on provider type, the market is segmented into financial companies vs non-financial companies. Based on tenure period, the market is segmented into less than 2 years, 2- 5 years, and more than 5 years. Based on end users, the market is further segmented into logistics/transport, FMCG, ecommerce, retail, industries, construction, government sector, others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Dubai, Abu Dhabi, Sharjah, and the rest of UAE.
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Company Profiles
Amlak Finance PJSC, GC Leasing Middle East FZCO, First Abu Dhabi Bank PJSC, Link Lease Equipment Rental LLC, SAMAA Finance, Diamondlease LLC, AVIS UAE Rent A Car CO.(LLC), Al-Futtaim Transport and Rental LLC, AWR Mobility L.L.C., LeasePlan are
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Attribute |
Details |
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Base Year |
2022 |
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Historical Years |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
· Lease Type · Provider Type · Tenure Period · End Users · Region |
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Regional Scope |
Dubai, Abu Dhabi, Sharjah, Rest of MEA |
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Key Companies Profiled |
Amlak Finance PJSC, GC Leasing Middle East FZCO, First Abu Dhabi Bank PJSC, Link Lease Equipment Rental LLC, SAMAA Finance, Diamondlease LLC, AVIS UAE Rent A Car CO.(LLC), Al-Futtaim Transport and Rental LLC, AWR Mobility L.L.C., LeasePlan |
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Customization Scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and Purchase Options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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