A new rental company, Gulf Union Equipment Rental Company, has been established in the United Arab Emirates (UAE) by a Middle East Caterpillar dealer and an investment partner.
Gulf Union is a joint venture between Cat dealer Mohammed Abdulrahman Al Bahar (MAB) and Saeed Matar Saeed Hamr Ain Al Mehairbi, reported Middle East news agency AME Info.
AME said the Dhs22m (US$6 million) project is owned 51% by Al Mehairbi and 49% by MAB. The company will rent a wide range of construction equipment, from wheeled loaders to site dumpers and forklift trucks. MAB is a Caterpillar dealer with headquarters in Sharjah, UAE, and offices in Kuwait, Bahrain, Qatar and Oman.
“Gulf Union Equipment Rental Company LLC will be leasing equipment and assets for new small and medium sized enterprises, to take the financial burden of buying equipment and assets off their balance sheets and allow them to focus on their core business demands, in terms of working capital, quality, output, and revenue generation,” said Basem Mousa, branch manager of MAB.
Saeed Matar Al Mehairbi said; “The dramatic increase in the property and infrastructure developments in the UAE and neighbouring countries is a key driver for the company. We believe there is significant growth ahead, which small and medium enterprises should not miss out on; we seek to offer a flexible lease structure to enable, among others, small and upcoming businesses to accelerate their growth”.