A new rental marketplace app has launched in Dubai to help residents save on general living expenses via the sharing economy.
Dubbed Tnerit, the app was founded by Emirati brothers Ali and Hussain Al Abbas and allows users to lend and borrow personal and household items from one another on a daily or monthly basis - earning money and saving in the process.
Based in Dubai, Tnerit seeks to provide a platform wherein users can benefit from both earning and or saving money simultaneously.
By sharing possessions, residents can live more sustainable lives and save money as they will not have to pay the full purchase price for items they may only need to use once or twice.
The company is hoping to strike a chord with residents at a time when many are struggling with the rising cost of living due to higher prices and job uncertainty. According to the quarterly Consumer Confidence Tracker from comparison site yallacompare released last month, almost half of UAE residents are now feeling less confident about their financial health than they were this time last year.
The app, currently only available to Dubai users, will be offered to Abu Dhabi and Sharjah residents next year. The app can be downloaded for free from the Apple App Store and the Google Play Store.
Categories of rental items currently available include electronics, home, garden and DIY items, as well as toys, games, party supplies, sports and fitness, clothes, books and musical instruments. However, the app, which only went live two weeks ago, appears in the early stages of development with only a few listings currently available and some sections of the app listed as "upcoming".