The new Capital Club at the Dubai International Financial Centre is similar to many such establishments for top mover and shakers in other global cities, and is presently still seeking its first one thousand members. This membership is actually a transferable debenture and if Dubai takes off as a financial centre is likely to prove a very valuable investment.
At a similar club in Hong Kong ‘memberships’ trade at $1.2 million each so the Capital Club at under $12,000 might be something of a snip. The comparison should not be with a normal club membership but with a seat on the local exchange. The price will rise and fall with the market.
Currently Dubai is very much an emerging capital market with its Dubai International Financial Exchange still in its infancy. But as the commercial hub of the Middle East grows over the next decade into a true regional financial centre it is not hard to envisage its fortunes changing.
Meanwhile, Capital Club members can enjoy splendidly lavish premises in the heart of the DIFC zone with subsidized prices for restaurants, bars and rooms. The main restaurant is a sort of nouvelle Lebanese affair with UAE dishes also available. It would be just the place to wine and dine a visiting guest from the financial sector, and to impress them with the high standards of Dubai hospitality.
You would also do well to accommodate them in the ostentatious guest bedrooms available to club members at just Dhs800 per night. This is a bedroom fit for a king with a stunning bathroom. Within the premises there are numerous rooms available for presentations, perhaps to unveil your financial results to a group of analysts.
I suppose the club atmosphere is a little soulless but its attractively presented staff do their best to inject a feeling of welcome. But you are certainly getting a taste of the best of modern Dubai, and that membership comes with an element of real estate speculation is wholly appropriate.
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