DUBAI (Kashmir English): Dubai has announced creation of the world’s first Gold Street within the Dubai Gold District in a groundbreaking and globally captivating project.
According to Arab media reports, the Gold District is already under construction and promises to become a premier world hub for gold and jewelry trade.
The Gold Street will be specially designed with gold elements to make it a unique destination for tourists and buyers from around the globe.
The project is expected to establish Dubai as the most distinctive and advanced centre for gold and silver jewelry commerce globally.
The District will function as a global hub for the jewelry industry bringing retail, wholesale, investment, and the entire value chain under one roof. Over a thousand retailers, including world renowned brands, are expected to operate in the Gold District.
In addition to being a commercial centre, the Gold District is expected to become a major tourist destination from across the globe, buyers, and investors.
The premises will have at least six hotels with over 1,000 guest rooms to accommodate global visitors.
Dubai as global gold market
The announcement comes as the UAE continues to strengthen its position in the global gold market. Last year, the UAE exported approximately $53.41 billion worth of gold, making it the world’s second-largest physical gold trading hub, with key trading partners including Switzerland, the UK, India, Hong Kong, and Turkey.
The area promises to combine luxury, commerce, and tourism, further elevating the city’s status as a leading international destination for gold and jewelry.
