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Rikaz Properties Signs Franchise Agreement with SCI (UAE)

03 Feb 2020 - Capital Club Riyadh will be the first private business club to be launched in the Kingdom of Saudi Arabia as an exclusive platform for networking, doing business, and socializing.

Rikaz Properties, a leading real estate company based in the Kingdom of Saudi Arabia, announced today 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 the first private business club to be launched in the Kingdom of Saudi Arabia as an exclusive platform for networking, doing business, and socializing.

The Club is planned to be established in the heart of King Abdullah Financial District (KAFD) in Riyadh. The Club will be a perfect addition to this ‘city within a city’ where KAFD is creating one of the region’s most economically connected, culturally dynamic and cosmopolitan centers.

“Since its launch, Rikaz has exerted its efforts to develop attractive and innovative real estate development projects across the Kingdom. Collaborations such as this will be significant to add to the ultra - premium Hospitality and Lifestyle offerings in the country plus creating sustainable employment opportunities within the Kingdom for the local talent. The focus for RIKAZ moving forward is to create a diversified portfolio which we believe is the key to success and is in line with Kingdom’s 2030 vision that calls for economic diversification,” said the Chairman and CEO of RIKAZ, Mr. Khalid Al Gahtani.

“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,” added Mr. Al Gahtani.

Commenting on this announcement, CEO of SCI, Daniel Forster 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.

Capital Club members have global access to over 250 clubs worldwide, offering exceptional networking opportunities, valuable information, 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, educational workshops amongst other interesting activities.

About RIKAZ

RIKAZ has a proven record of success as a leading land developer across the Kingdom of Saudi Arabia since 1997. Its mission is to create attractive, innovative and sustainable real estate development projects that foster a community spirit. Aiming to achieve consistent, risk-adjusted returns on investment for its shareholders, value for clients and professional growth opportunities for employees. RIKAZ have geared its focus on new projects across multiple asset classes where strong growth is being driven by the expansion of the Kingdom’s economy and its ambitious plans for economic diversification under vision 2030. The upcoming Real Estate Development projects will establish RIKAZ as a place maker for where people live, work, play and learn. RIKAZ is constantly looking at diversifying its portfolio by partnering for success, and believe in mutual benefit for its stakeholders, customers, and the nation.

About Signature Clubs International

SCI is a company specializing in the franchising, management, development and ownership of high-end private clubs under the brand name of the Capital Club. The company has operating clubs in Dubai, Bahrain, Nairobi and Lagos and has its main executive branch office registered in the Dubai International Financial Centre, UAE.


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