Dubai’s Golden Quarter will feature the world’s first gold street

The exact opening dates have not yet been announced. It is known that the new market will be located in the Deira area, next to the historical gold souk. Around 1,000 gold and jewelery sellers, including well-known jewelery brands, are expected to operate here. In addition to retail trade, a wholesale zone for transactions with precious metals will also be organized on the territory. The total area of ​​the complex will exceed 2220 m², which will allow it to become the largest market of this format in the Middle East.

Like Dubai’s other famous souks that specialize in antiques, fragrances and spices, the Gold Souk attracts many tourists. However, it is gold that holds a special place in the city’s economy and culture, making the UAE the second largest physical gold trading center in the world. According to the Dubai Media Office, gold exports reached US$53.41 billion in 2024-25, with India, Hong Kong, the UK, Switzerland and Turkey being the country’s major trading partners.

The Dubai press office notes that the city attracts an incredibly diverse audience, with some of the most diverse shoppers, traders and consumers in the world. In 2025 alone, people from more than 147 countries visited the gold district, confirming Dubai’s status as a truly global gold and jewelery trading hub.

Ahmed Al Khaja, CEO of the Dubai Festivals and Retail Establishment (DFRE), a division of the Dubai Department of Economy and Tourism (DET), fully supports the idea. “Gold is an integral part of Dubai’s cultural and business heritage, representing our past, prosperity and ongoing entrepreneurial spirit,” he said. He added: “By creating this iconic place, we are not only preserving traditions, but also adapting them to a new era where creativity and sustainable development play a key role.”

Experts call the Gold Street concept a successful marketing move that will create a unique symbol in the public consciousness, the first in the world, reflecting Dubai’s comprehensive offering as a global center for gold trading, investment and retail commerce. This project will both become an attractive tourist attraction and support the development of the tourism sector. Details about the implementation of the concept will be revealed gradually.