Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Car rental firms gear up for high earning  Join our daily free Newsletter

MENAFN - Arab News - 27/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) R rental shops in Jeddah are gearing up for a flourishing season as many come to enjoy the Eid Al-Fitr vacation in the Bride of the Red Sea.Demand for cars is expected to be high during the Eid next week. Dealers told Arab News that profits earned in high seasons sustain them throughout the year.Falah Hadi an employee at a car rental shop on Palestine Street told Arab News that his office has 70 percent of the company-owned 30 cars rented out days ahead of Eid.He explained that most of the customers come from outside Jeddah. He said 50 percent of these customers come from Riyadh 30 percent from Dammam and the rest from Tabuk Arar Jubail and Yanbu.Rental rates for a small car range between SR130 and SR180 per day and large cars can cost between SR200 and SR350.Said Al-Bassami head of transport and car rentals committee at the Jeddah Chamber of Commerce and Industry (JCCI) told Arab News that the demand for cars in Jeddah will double during the vacation season.He added that car rental companies are having a high season all around the Kingdom. He explained that high demand is resulting in car rental firms competing with each other during the vacation season.The field of car rental companies is growing in light of the economic boost and the renaissance taking place in the Kingdom in all fields Al-Bassami said.He explained that steadily growing tourism is playing a significant role in attracting visitors to the Kingdom during the summer season particularly to cities where festivals are held on the occasion of Eid Al-Fitr.Al-Bassami said that it's normal that prices of car rentals go up during seasons and holidays. 'This is considered a great season for them to make profits and the prices depend on several factors including the model size and type of the car as well as the extent of demand for one car over the others.Small car rental prices range between SR100 and SR140 and the large ones from SR250 to SR400 per day he pointed out.

 


Arab News




  MENA News Headlines
 Aug 27 2015 - Peninsula Energy in share consolidation ahead of NYSE MKT listingProactiveInvestors - Australia
(MENAFN - ProactiveInvestors)Pending U.S. uranium producer Peninsula Energy (ASX:PEN) will conduct a 40 for 1 share consolidation of its listed ordinary shares and options ahead of a listing on the ...

 Aug 27 2015 - Dubai's Al Habtoor seeks to borrow USD408mMENAFN
(MENAFN) Dubai's Al Habtoor Group is seeking to finance its property investments, and is intending to borrow USD408 million from local banks to achieve that.First Gulf Bank has stepped in to see the ...

 Aug 27 2015 - Saudi Red Sea mall unveils USD46.5m expansionMENAFN
(MENAFN) The Red Sea Mall, Jeddah's biggest shopping center, has just declared the beginning of its largest expansion project, estimated at USD46.5 million.This main stream project is considered the ...

 Aug 27 2015 - EGOTH prioritises investing in company's assets in FY 2015/2015: ChairmanDaily News Egypt
(MENAFN - Daily News Egypt) The profits of the Egyptian General Company for Tourism and Hotels (EGOTH) amounted to EGP 156m during fiscal year (FY) 2014/2015, according to the company's Chairman and ...

 Aug 27 2015 - Egypt- EGX rises minimally, remains affected by global performanceDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Stock Exchange (EGX) recovery continued for a second trading day on Wednesday, after witnessing a continuous dropping pattern. The benchmark index EGX-30 ...

 Aug 27 2015 - Mahmoud Hussein: Youth without youth in Egypt's cellsDaily News Egypt
(MENAFN - Daily News Egypt) Mahmoud Mohamed Hussein was 18 years old when he was arrested. . Today he has grown a little older, and wonders at what age he will possibly be released from prison. Like ...

 Aug 27 2015 - Egypt- Rice exports haltedDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour has issued a decision to stop exporting rice beginning in September.Abdel Nour explained in a statement ...

 Aug 27 2015 - Egypt- Boycott campaign seeks to lower skyrocketing meat pricesDaily News Egypt
(MENAFN - Daily News Egypt) campaign was launched on social media platforms in Egypt calling on citizens to boycott buying meat, in protest of the increasing prices of meat.The campaign said, on its ...

 Aug 27 2015 - UAE- DP World 1H profits increase 22%Daily News Egypt
(MENAFN - Daily News Egypt) Global marine terminal operator DP World announced that its profits for the first half of 2015 have increased by 22%, as the company handled more cargo in addition to ...

 Aug 27 2015 - Egypt- Controversial TV host Ahmed Moussa awaits court order on programmeDaily News Egypt
(MENAFN - Daily News Egypt) Controversial TV host Ahmed Moussa is facing a court decision regarding the halting of his daily programme, according to a decision issued Wednesday by the advisory board ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help