By Sam Bridge
DIFC members-only business club has unveiled refurbishment plans in a bid to 'reinvent' itself
Capital Club Dubai, located in Dubai’s financial district, has unveiled refurbishment plans in a bid to "reinvent" itself following a slump in membership.
The overhaul will include its high-end restaurants, luxurious accommodation, barbershop and gym, as well as the introduction of private meeting rooms, a statement said.
It added that the club’s food and beverage offerings will also introduce new menus as part of the revamp.
For the first time in the club’s history, there will be a dedicated Gate Village podium level entry, connecting directly to The 3rd Floor Sports Bar and Club.
The plans comes as membership - which costs about $5,500 a year to access meeting rooms, a gym, a fine dining restaurant and a sports bar in the heart of the financial district - has reportedly dropped to about 1,000 from a peak of roughly 1,500 members.
Ian Palmer, general manager of The Capital Club said: “After many successful years, it is time for us to inject new money and new management into the club and reinvent ourselves. We are very excited for what the new year will bring to our existing members and also new members.”
He added: "The club’s refurbishment is going to give Dubai’s influential business leaders an unrivalled space to do business, network, entertain and develop the ideas of tomorrow – thus showcasing what a living, thriving Club looks like. We can’t wait to introduce the Members Club of tomorrow in 2020 and look forward to growing our network in the region and globally.”
A new management board has also been appointed to drive the club’s refurbishments and development with Hussain Sultan Al Junaidy named new executive chairman and major shareholder.
Last month, it was reported that the members-only business club is seeking money to turnaround the exclusive meeting spot once-favoured by the city’s top dealmakers.
Bloomberg reported that the club is working with the investment banking arm of Emirates NBD to raise about AED30 million ($8.2 million) as part of plans that include bringing in a new management team and restructuring debt.
Once one of the city’s most exclusive places to do business, the venue isn’t being spared the economic showdown that’s weighing on the emirate.
More details about the club’s refurbishment will be announced in early 2020, the statement added.