A subsidiary of the sovereign wealth fund Investment Corporation of Dubai, Ithra Dubai, declared on Tuesday, 26 April, the opening of the Dubai Gold Souk Extension (GSE).
The GSE will add 295 new shops, of which around 50 jewellery brands have opened up their outlets. With many more brands and specialities, diners are in the process of setting up new shops.
The GSE is part of the Deira Enrichment Project, which is a modern mixed-use community formed for residential living, commerce, business and leisure. It also features a transportation hub that links Deira to the heart of Dubai.
The old Gold Souk of Dubai is home to thousands of gold jewellers outlets of different international and local brands.
The Dubai Gold Souk Extension preserves the charm and cultural features of the original souk. Still, it provides a more urban experience with shaded paths, top quality facilities including co-working spaces and workshops, restaurants, covered parking, a nearby waterfront promenade and a variety of hotels; catering to entrepreneurs, residents and tourists from all over the world.
The Director and CEO of Ithra Dubai said, “The historical importance of this area has been uplifted to give an enhanced experience while accommodating the rising number of visitors. Located in Dubai’s original trading hub, it will be one of Dubai’s top cultural attractions as well as the world’s destination for jewellery.”
The board member and chairperson for marketing of Dubai Jewellery Group, Laila Suhail, said, “To push the dominance of Dubai as the Jewellery Destination of the World, Dubai Jewellery Group after covid opening has executed many initiatives to restore and push the gold sector. With this inaugural ceremony of the Gold Souk Extension, we have opened another milestone.”
“Sitting in front of the iconic Dubai Gold Souk, and against the backdrop of the Deira Creek, Gold Souk Extension will provide something unique and added facilities which will further improve the Dubai Gold Souk experience,” she further added.