Gulf News: How has the car rental industry performed over the last year?
Al Boasy: The car rental industry in the UAE has grown aggressively over the past five years and is currently registering a growth rate of 20 to 25 percent per year. Demand for car rentals is growing at a healthy pace.
The aggressive growth has encouraged ENG to upgrade and expand its fleet. With over 7,000 vehicles, ENG is one of the biggest local transportation solutions provider in the UAE.
Gulf News: What economic trends are helping the growth of the car rental industry?
Al Boasy: The rapid economic growth and the number of projects that have been announced, particularly in Abu Dhabi and Dubai, attract businessmen, tourism and construction companies to the UAE.
All of these have greatly contributed to the growth of the car rental industry. The government's decision to privatise transport services is an additional factor assisting the growth of this industry.
Gulf News: What services does ENG offer?
Al Boasy: We offer car rental, leasing and fleet management through our Fast Rent A Car brand and managed transportation solutions for individual customers travelling, Airport and inter-Emirates transfers through Fast Limo.
ENG also owns the Emirates Taxi service in Sharjah as well a courier and logistics company called Fast Express which leverages our strong network of offices and ENG's fleet strength.
The group also provides road assistance through our group company,Fast Recovery which has a good line of recovery trucks based all over the country.With a fleet strength of over 7,000 vehicles across our company, we have the ability to cater to the needs of big corporations by providing transportation for up to 65 passengers.
Gulf News: What are your future expansion plans?
Al Boasy: We are increasing our taxi fleet by 13 per cent this year and intend bidding for the Abu Dhabi Taxi Project - expected to come up by end of 2006 or early 2007. We will continue to expand our fleet and range of services.
We were the first [UAE] car transportation services company to expand to Qatar, and we are keen to continue this expansion. Our fleet in Qatar has grown considerably in time for the opportunities that the Doha Asian Games will provide.
Gulf News: What factors have contributed to your growth?
Al Boasy: We believe our service offerings accurately reflect market needs and we have a number of brands and services such as Fast Rent A Car, Fast Limo, Emirates Taxi and Fast Express to cater to these needs.
Our services network comprise 16 offices, including Abu Dhabi and Dubai International Airports, and we are present across the UAE. We also have strong partnerships with institutions including Air Miles, banks, business groups.
