What if a startup like Urent hit grounds in the Singaporean market. Could be the next big rise?
Recently a Singaporean man had ordered a $1.1 million Bentley-sight unseen-over the social network. When Omar Al Ashi, 'CEO of Urent' first read the Facebook message, he wasn't sure if it was real. The quick sale was the latest sign of a wider trend, especially in the Singaporean market: Money is sloshing around Singapore like never before. It could unquestionably be the next big rise for car rental businesses in Singapore! Urent is a vehicle sharing app that offers a new concept in the UAEa new model in which businesses list multiple vehicle types including cars, yachts, personal watercrafts, scooters, bicycles, and ATVs. According to budget direct, there are around 1M vehicles in Singapore and thousands of car rental companies. Amidst the pandemic, taxis and private-hire cars could carry only up to two passengers during this period of tightened COVID-19 restrictions, the Land Transport Authority (LTA) said on May 16. This made it difficult for the families to travel together from one place to another. In the end, it all matters about proper sanitation and safety, that's what Urent Cares about. If this idea gets initiated in Singapore, the travel issue can easily be resolved ensuring the proper sanitization of vehicles. Moreover, it could become easier for the residents to hire a self-drive car right from the mobile app. Recently, Yahoo had posted about the Emirates based startupUrent - "UAE-based peer-to-peer vehicle sharing platform 'Urent' had recently announced that they have introduced numerous number of high-end vehicles into its garage." The growing number of vehicles proves that Urent is expanding its base. For the Singaporean market, Urent could be the next big player allowing the car rental companies to grow their business and could also ease the renting process for customers.