DUBAI: A city that has always amazed the world with its unique constructions, Dubai is now preparing for another historical wonder. The world’s first ‘Gold Street’, made of gold, is coming to the Dubai Gold District. This major announcement was made during the official launch of the Ithra Dubai Gold District.
Officials have stated that more details about the project will be revealed in the coming stages.
What is the Gold District?
This district is known as the new headquarters for Dubai’s gold and jewelry trade. It is designed to bring gold jewelry retail, wholesale, bullion, and investment all under one roof.
Over a thousand leading brands in the gold, perfume, and cosmetics sectors are featured here.
Presence of Major Brands: Prominent Indian and Arab jewelers like Malabar Gold & Diamonds, Joyalukkas, Jawhara Jewellery, Tanishq, and Al Romaizan have already confirmed their presence here. Joyalukkas has announced that it will open its largest flagship store in the Middle East (24,000 sq ft) in the Gold District.
Leading the Global Market
In the 2024-25 period, the UAE exported approximately $53.41 billion worth of gold. Switzerland, the UK, India, Hong Kong, and Turkey are its main trading partners.
The UAE has become the second-largest center for physical gold trading in the world.
Ithra Dubai CEO Issam Galadari and DET CEO Ahmed Al Khaja stated that this project, which combines Dubai’s heritage with future possibilities, will provide a new boost to the emirate’s economy.