Riyadh, Saudi Arabia--(Newsfile Corp. - April 25, 2024) - The leading car rental and leasing company in Saudi Arabia - Budget Saudi - has successfully renewed the Budget & Payless Franchise agreement for 10 years until 2033.
The agreement was signed with the owners of the international trademark, one of the world's leaders in the industry.
Unitrans Group, through its flagship brand Budget Saudi, holds the prestigious title of being the world's one of the single largest franchise owners of the business group in that category. This global recognition, coupled with a legacy of 45 years in Saudi Arabia, underscores Budget Saudi's commitment to delivering world-class services and creating memorable journey experiences.
The signing ceremony was conducted during the global company's Middle East Conference, held in Jeddah earlier this year. The agreement was signed by Mr. Hans Mueller - VP Global Licensees and Mr. Fawaz Abdullah Danish, President and Group CEO of Budget Saudi. The conference was one of the biggest in the history for the brands' license holders in the Middle East. The top management of from the UK, and Singapore, as well as delegates from the GCC countries, Jordan, Lebanon, in addition to Kazakhstan, attended the event.
Franchise agreement signed by Hans Mueller - VP, Global Licensees and Fawaz Abdullah Danish, President & Group CEO, Budget Saudi flanked by James Richmond, Regional Director, MENA & Asia and Anil M Abraham, Director of Sales & Marketing
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Budget Saudi, a name synonymous with quality, reliability, and consistency in Saudi Arabia, has recently announced its robust financial performance for the year 2023. The company reported profitability exceeding SAR 277.3 million, a remarkable 10% increase from the previous year. Furthermore, revenue growth for the year 2023 was an impressive 36% higher than the previous year, demonstrating Budget Saudi's strong financial health and promising future.
Fawaz Danish, President and Group CEO of the company, said, "The franchise agreement signed for 10 years augurs well for the company and its growth strategy. It demonstrates the trust of the group in our company to deliver consistently and grow exponentially in the coming years. The brand Budget & Payless is secure in our portfolio in Saudi Arabia to achieve our vision of being the most comprehensive transportation solutions provider and a one-stop shop for all kinds of vehicle renting and leasing services coupled with premier limousine operations. We now focus on achieving our accelerated growth plans for the next 5 years."
The company has seen substantial growth in its revenues and fleet. As part of its growth strategy and in accordance with Vision 2030, the company invested sustainable green initiatives to reduce carbon footprint of its fleet. The company has inducted EV vehicles to its fleet for rental and leasing services. Budget Saudi is actively involved in developing EV infrastructure in various projects and B2B business as part of its commitment to green nation initiatives.
Media contact:
Name - Anil Mathew Abraham
Email - marketing@budgetsaudi.com
Website - https://www.budgetsaudi.com/
Contact - +966 92000 4124 / +966 (0)12 692 7070 Ext 1444
Address - 3, Al Basateen District, Bin 3 Complex, King Abdul Aziz Road, Jeddah 23719, Saudi Arabia
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206818
SOURCE: Elite Discoveries Digital Inc.
