The Palestinian Company for Rental & Leasing

In 2006, Pallease was the first licensed leasing company to launch operations in Palestine.  The company was established as a subsidiary of the Palestinian Distribution and Logistics Services Company (Wassel), a public shareholding company established in 2005 and listed on the Palestine Stock Exchange.  In 2011, Siraj Fund for a 56% stake in the company.  Today, it is the fastest growing, only publicly held Palestinian leasing company operating in the country.   An SME ourselves, with a market cap of $6.5M, our mission is to remain the leading Palestinian financial institution offering leasing services to both larger companies as well as local SMEs.  
Until 2013 Pallease had been primarily involved with larger corporate company car fleets and some large productive assets – such as copy centres.  But the company never lost sight of the SME sector and the significant developmental contribution the sector makes to the Palestinian economy through value creation in the overlooked segments.  
Leasing plays a critical role in promoting a sustainable private sector in emerging markets, as it particularly helps underserved markets, such as SMEs, to gain access to finance. Leasing becomes especially important for SMEs when access to bank loans remains scarce, as is the case for many Palestinian small and medium businesses. This is also a major obstacle to growth as SMEs form the backbone of the Palestinian economy. SME’s now constitute of more than 80% of private companies and private sector workforce and around 55% of GDP and make a significant contribution reducing unemployment.
The company estimates the market need for leasing services in the West Bank to top $200 Million dollars in diverse sectors. In the West Bank, the company’s market share is 43% of this ever growing market and the goal is to maintain the market leader moving forward.  
Our portfolio size has grown from $7.5M in 2012 to $18.8M in 2015 to approximately 40M$ in 2020.