Leopardstown Racecourse is undergoing a €3m makeover including a new grandstand area.
Work is due to be completed next month on the first phase of the work, just in time for the British Irish Raceday, featuring the King George V Cup.
The famous racecourse, which every year attracts a host of well-known faces, including Ryanair boss Michael O'Leary, is celebrating its 125th anniversary this year.
The first phase of the rejuvenation project is focusing on the grandstand area and a new third-floor panoramic suite, with the capacity to seat 150.
The existing grandstand was built in 1970 and, while there have been a number of improvements to the structure, this is by far the biggest in 40 years.
The CEO of Leopardstown Racecourse, Pat Keogh, said: "Over the past 125 years, Leopardstown has been the backdrop to some of Ireland's racing's greatest racing, family and community events.
"It is fitting that we announce the details of the first stage of redevelopment in Leopardstown, and open the new grandstand area and panoramic suite in time for the King George V Cup – a historic event that will see this feature race return to Leopardstown for the first time since 1911."
The aim of the first phase of the redevelopment is to bring Leopardstown up to international standards.
The project, which has been contracted to Galway firm JJ Rhatigan and Co, has seen Leopardstown invest €3m and created up to 50 jobs.
Work began in January and will be completed by June 7, when the King George V Cup, hosted in association with the British Irish Chamber of Commerce, will take place.
The course, Dublin's only racetrack, is home to iconic premium flat and national hunt racing such as the Red Mills Irish Champion Stakes, the Hennessy Gold Cup, BHP Irish Champion Hurdle and the Leopardstown Christmas Festival.
Speaking about the redevelopment of the facilities, Mr Keogh added: "The new development and our investment in upgrading and creating new facilities at Leopardstown Racecourse, shows our continued commitment to offering racegoers, families and the local community the ultimate experience."