Abstract

The HVAC industry in the UAE is a lucrative business, with five companies operating in the UAE, two of which are major players in the market. COMPANY-X, is one of two and it is a multi-million-dollar company headquartered in the USA. The company has franchises in Dubai and Abu Dhabi, along with several dealerships across the country. Despite considering entering the rental market for the past six years, however, it remained just an idea until the outbreak of the COVID-19 pandemic in 2022. The pandemic resulted in a surge in demand for rental services, specifically in the testing and vaccination tents. However, the demand had a steep decline in testing centers after a while. The experience opened new opportunities for COMPANY-X’s leadership to re-evaluate its position and decided to implement a rental business model by the end of 2025 for different purposes. The team of the company has proposed a solution and business model, which has been presented to the GCC leadership, with plans to launch a pilot program by December 2023. If the results prove promising, COMPANY-X plans to implement a region-wide business model in the UAE, KSA, Qatar, and Kuwait. This capstone project aims to discuss and evaluate the implementation of the new policy and the potential benefits it brings to the company. Based on the data and analysis of the paper, it would take approximately 2.06 years to recoup the investment. By establishing a fixed minimum rental prices according to table 7 for the next 15 years, it becomes evident that the initial investment is projected to yield approximately 600%-950% in the long term.

Publication Date

11-29-2023

Document Type

Master's Project

Student Type

Graduate

Degree Name

Engineering Management (ME)

Advisor

Amol Gore

Advisor/Committee Member

Dua Weraikat

Campus

RIT Dubai

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