Budget Saudi Announces Impressive Long-Term Lease Contract Growth and Best ESG Practices Award for 2023

Riyadh, Saudi Arabia--(Newsfile Corp. - February 9, 2024) - Budget Saudi, a leading name in the car rental and transportation industry, is thrilled to announce two significant achievements for the year 2023 that underscore its commitment to growth and sustainability. The company has not only reported substantial growth in long-term lease contracts but has also received the prestigious Global Economics Award for Best ESG (Environmental, Social, and Governance) practices in the industry.

Long-Term Lease Contract Growth:

In 2023, Budget Saudi achieved remarkable success in the long-term lease contract segment, with contracts valued at SAR 992 million. This impressive milestone represents a 27% year-over-year growth in contract value for over 8,200 vehicles in company's fleet. The commercial vehicles division played a pivotal role in contributing more than half of the total contract value, aligning seamlessly with the growing Logistics & Last Mile Delivery industry in the Kingdom.

Budget Saudi attributes this remarkable growth to its three-pillar strategy focusing on Customer Centricity, Sustainability, and Innovative Solutions. The focus on customer first always policy and the rapid adaptability to changing market dynamics enabled the company to achieve these milestones.

Best ESG Practices Award:

Budget Saudi's unwavering commitment to sustainability and responsible corporate practices has garnered recognition on the global stage. The company was recently honored with the Global Economics Award for Best ESG Practices in the Car Rental and Transportation Industry in Saudi Arabia. This prestigious accolade reflects Budget Saudi's dedication to making a positive impact on environmental, social, and governance initiatives.

Mr. Fawaz Danish, President & Group CEO of Budget Saudi, emphasized, "Strategic investments in sustainable mobility solutions and products that positively impact our environmental, social, and governance initiatives are essential for the future sustainability of our business."

Some of the notable ESG practices implemented by Budget Saudi include:

• Incorporating environment-friendly green initiatives by adding hybrid vehicles and electric vehicles (EVs) to the fleet.
• Partnering with solutions and joint ventures for EV infrastructure development in KSA.
• Certification of major workshops for "Environmental Compliance" by the National Center for Environmental Compliance (NCEC).
• Strategic investments in recycling, waste management, and paper reduction initiatives.
• Active participation in social and community-focused CSR activities, including support for the disabled and humanitarian causes.
• Continuous development and growth initiatives for employees, including talent development programs and corporate governance initiatives.

Budget Saudi is committed to maintaining high ethical standards and transparency in its operations, as evidenced by regular internal and external audits, a whistleblower protection policy, and a board of directors comprising independent and skilled members.

As Budget Saudi continues to thrive and contribute positively to the industry and society, it remains dedicated to its mission of providing exceptional transportation services while upholding the highest ESG standards.

About Budget Saudi:

Budget Saudi is a leading provider of car rental and transportation services in the Kingdom of Saudi Arabia. With a strong commitment to customer satisfaction, sustainability, and innovation, Budget Saudi has become a trusted name in the industry. The company's dedication to ESG practices has earned it recognition as a responsible corporate citizen.

For media inquiries, please contact:

Name - Anil Mathew Abraham
Email - [email protected]
Website - http://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

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