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Mon 3 Feb 2020 04:35 PM

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Plans revealed to launch Capital Club Riyadh despite Dubai struggles

Rikaz Properties signs franchise agreement with Signature Clubs International to acquire rights to operate Capital Club Riyadh

Plans revealed to launch Capital Club Riyadh despite Dubai struggles
The announcement comes as Capital Club Dubai undergoes a revamp in a bid to boost dwindling membership.

Rikaz Properties, a real estate company based in Saudi Arabia, announced on Monday it has signed a franchise agreement with Signature Clubs International (SCI) to acquire rights for developing and operating Capital Club Riyadh.

Capital Club Riyadh will be launched in the kingdom as an exclusive platform for networking, doing business, and socialising, a statement said.

The club is planned to be established in the heart of King Abdullah Financial District (KAFD) in Riyadh, it added.

Khalid Al Gahtani, chairman and CEO of Rikaz, said: “We are proud of this acquisition which forms a significant achievement for the business sector in Saudi Arabia. Capital Club will be the ideal platform where members have access to an exclusive venue to connect and meet with the most prominent business leaders in the kingdom.

"We look forward to launching the first premier private business club in Saudi Arabia in the heart of Riyadh’s central business district – paving the way and working alongside our partners and members in creating a unique environment for businesses to grow and thrive across the kingdom,” he added.

Daniel Forster, CEO of SCI, said: "We are delighted to be partnering with Rikaz to bring the Capital Club to Riyadh’s new financial center. Riyadh is an important location for our existing members and also contributes significantly to our vision of developing a reputable network of likeminded business people in the world’s most exciting growth markets.

He added that Capital Club members have global access to over 250 clubs worldwide including Dubai, offering networking opportunities and unique experiences for like-minded individuals.

Throughout the year, Capital Club hosts events ranging from informative business forums, seminars and launches, live entertainment, celebrity chef themed events, and educational workshops.

The announcement comes at a time when Capital Club Dubai, located in Dubai’s financial district, has unveiled refurbishment plans in a bid to "reinvent" itself following a slump in membership.

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