Dubai’s Gold Souk Extension is ready to welcome the world

Sajjad Ahmad, Deputy Business Editor

Dubai is considered gold and jewellery destination of the world and to strengthen its status the emirate is taking more initiatives and launching new projects to accelerate economic growth.

Ithra Dubai, a leading real estate developer and manager, fully owned by the Investment Corporation of Dubai, has announced the grand opening of the Dubai Gold Souk Extension (GSE) on Tuesday.

The opening ceremony was attended by key representatives from Ithra Dubai and Dubai Jewellery Group. An inaugural celebration with a golden line-up of entertainment, activation, and promotions will take place until May 8, creating a festive atmosphere the whole family will enjoy.

The grand opening of the Gold Souk Extension is just in time for the celebration of Eid Al Fitr.

The Dubai Gold Souk Extension will rejuvenate Dubai’s historic heart of commerce and reignite Dubai’s reputation as the City of Gold, delivering an elevated shopping and trading experience.

The GSE will be the crowning jewel of the Deira Enrichment Project, a modern mixed-use community developed for residential living, business, commerce, and leisure and features a transportation hub that connects Deira to the heart of Dubai. and ensures superior accessibility to the project.

An official speaks during the opening ceremony of the Gold Souk Extension.

The Dubai Gold Souk Extension maintains the charm and cultural characteristics of the original souk but offers a more urban experience with shaded walkways, superior facilities including workshops and co-working spaces, covered parking, restaurants, a nearby waterfront promenade, and a range of hotels; catering to residents, entrepreneurs, and tourists from around the world.

Of the 295 shops, over 50 jewellery brands have opened during the soft launch and for the grand opening, more brands and specialty restaurants are setting up shop.

Issam Galadari, Director and CEO of Ithra Dubai said, “The Gold Souk Extension is a tribute to Dubai’s legacy of trade, and we are proud to be part of it. The historic significance of this area has been uplifted to provide an enriched experience while accommodating the increasing number of visitors. Located in Dubai’s original trading hub, it will be one of Dubai’s top cultural attractions and the world’s destination for jewellery, revitalising Dubai’s moniker: the City of Gold.”

He added, "The Gold Souk attracted an average of 20,000 to 25,000 visitors on daily basis and the footfall increased to over 30,000 during the Expo 2020 Dubai. The new project also provides over 8,000 parking space for residents and customers."

A family walks with their shopping bags at the Gold Souk Extension centre.

In line with Dubai’s 2040 Urban Master Plan, this 1,181,025 ft2 development will transform the Emirate’s legacy into modern reality, supporting trade, tourism, and growth to secure a golden future.

Tawhid Abdullah, Chairman, Dubai Jewellery Group, said,“ the opening of Dubai Gold Souk Extension will increase the attraction of Deira and will stimulate business activities.”

About the growth he added,” the demand for gold and jewellery in Dubai is rising and we have witnessed a good growth in the first quarter of the 2022.”

For her part, Laila Suhail, Board Member & Chairperson – Marketing – Dubai Jewellery Group, said, “In order to push the dominance of Dubai as the Jewellery Destination of the World, Dubai Jewellery Group post covid opening has implemented several initiatives to revive and push the gold sector.

With this inaugural ceremony of the Gold Souk Extension, we have unlocked another milestone. Sitting in front of the iconic Dubai Gold Souk, and against the backdrop of the Deira Creek, Gold Souk Extension will offer something new and added facilities which will further enhance the Dubai Gold Souk experience.”