UAE Leasing Market Analysis, Share, Trends, Demand, Size, Opportunity & Forecast

Rising demand for car leasing among consumers, government initiatives, and ease of payment modes are the leading factors driving the UAE Leasing market during the projected period. According to TechSci Research report, “UAE Air purifiers Market – By Region, Competition, Forecast & Opportunities, 2018-2028F” The rising demand from the FMCG sector, growing number of government initiatives, and increasing commercial activities are some of the factors fueling the overall sales of this market around the UAE. If a business in Dubai or the UAE offers credit or financing in exchange for payment, it is regarded as a lease finance business. Giving loans to related or unrelated parties, getting into a finance agreement, leasing property other than land, offering credit in the form of hire purchase agreements, long-term credit plans, etc. are all included in the credit or financing.

The Important Aspects of the UAE Leasing Market

Lease has a basic term that cannot be terminated throughout that time. This fundamental term's duration is determined by the asset's economic life and is typically shorter than the predicted asset life. With this agreement, the lessee has the option to continue using the asset after the basic period has passed or, alternatively, to purchase it at a pre-agreed amount after the lease expires. Leasing is frequently utilized for real estate, construction projects, and extremely expensive machinery. Usually, during the lease time, the lessor is able to recoup his investment in the item. The concept of leasing is gaining popularity in the country, owing to various advantages offered by such services as a convenience, since it is the easiest method of financial fixed assets. It also saves time because assets can be used right away without having to wait for approval, sanction, etc. after applying for a loan.

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Moreover, in 2020, the government implemented ESR (Economic Substance Regulation), which mandates the companies to comply with ESR Notification filing, Economic Substance Test, and ESR Return filing. The implementation of the ESR is anticipated to increase transparency in the tax procedures used by businesses in the UAE. The businesses must be financially viable in one or more of the pertinent operations they carry out in the UAE. However, businesses on the mainland as well as those operating in free zones have been seeking additional clarification on pertinent activities, particularly the lease-finance industry activity.

Additionally, due to rising commercial activities, the market is further expanding. For instance, in 2022, Line Investments & Property, the shopping mall and management division of Abu Dhabi-based Lulu Group International, announced that it had signed retail leasing deals in order to add a wide variety of entertainment options at Silicon Central, which is a new two-level retail and leisure destination within Dubai Silicon Oasis. With 81,500 square meters of GLA and 3,500 parking spots, Silicon Central claims to provide a variety of brands.

Also, online platforms have made it easier for individuals to avail of such services. People can now choose their preferred lease plans on the basis of amount, tenure, etc. while also being able to compare plans with various leasing finance providers.

The UAE leasing market is segmented based on lease type, provider type, tenure period, end users, and region. In terms of lease type, the market is segmented into commercial vehicle lease, heavy equipment lease, plant and machinery lease, and real estate lease. Among these, commercial vehicle lease dominates the market due to the increase in commercial activities in the country. In terms of the tenure period, the market is segmented into less than 2 years, 2- 5 years, and more than 5 years. Among these, the 2-5 years segment dominates the market since the tenure period for commercial vehicle leasing generally ranges from 2-5 years. These factors are projected to fuel market growth in the forecast period.

Key market players in the UAE leasing market include:

• 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 Corporation N.V.

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"The UAE leasing market has been observing significant growth over the past few years. An increase in commercial activities in the market is expected to drive market growth at a higher rate during the forecast period. Also, government initiatives are further encouraging the population to opt for these services. Such factors are further anticipated to contribute to the growth of this market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based UAE management consulting firm.

UAE Leasing Market, By Lease Type (Commercial Vehicle Lease, Heavy Equipment Lease, Plant, and Machinery Lease, Real Estate Lease), By Provider Type (Financial Companies vs Non-Financial Companies), By Tenure Period (Less than 2 years, 2- 5 Years, More than 5 Years), By End Users (Logistics/Transport, FMCG, E-commerce, Retail, Industries, Construction, Government Sector, Others), By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of leasing and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in leasing market of UAE.

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