Dubai Gold District launches as global epicentre for gold and jewellery trade

Business

Dubai Gold District launches as global epicentre for gold and jewellery trade

Dubai has officially unveiled the Dubai Gold District, a purpose-built destination designed to strengthen the emirate’s position as a global hub for gold and jewellery trade. Developed by Ithra Dubai, the District brings together the entire gold and jewellery value chain under one unified ecosystem, supporting the goals of the Dubai Economic Agenda, D33.

The launch marks a significant milestone in Dubai’s evolution as a leading centre for retail, commerce, and international trade. The District integrates retail, bullion, wholesale trade, and investment activities within a single destination, reinforcing Dubai’s reputation as one of the world’s most trusted markets for gold.

The unveiling ceremony was attended by senior government and industry leaders, including H.E. Mohammed Ibrahim Al-Shaibani, Managing Director of the Investment Corporation of Dubai; H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Issam Galadari, CEO of Ithra Dubai, alongside long-standing traders from the area. Officials said the initiative aligns closely with the D33 agenda, which aims to accelerate economic growth and strengthen Dubai’s global competitiveness.

A key highlight of the launch is the announcement of the world’s first Gold Street, a landmark attraction constructed using gold. The project will be revealed in phases and is expected to become a major draw for tourists and visitors.

The launch comes amid the UAE’s growing prominence in the global gold trade. During 2024–25, the country exported approximately USD 53.41 billion worth of gold, with major trading partners including Switzerland, the United Kingdom, India, Hong Kong, and Türkiye. This positions the UAE as the world’s second-largest physical gold trading destination.

Dubai Gold District is home to more than 1,000 retailers spanning gold, jewellery, perfumery, cosmetics, and lifestyle categories. The destination hosts leading regional and international brands such as Malabar Gold and Diamonds, Tanishq Jewellery, Jawhara Jewellery, and Al Romaizan, while Joyalukkas has announced plans to open a 24,000-square-foot flagship store, set to be its largest in the Middle East.

Supporting Dubai’s wider tourism and retail ecosystem, the District is complemented by over 1,000 hotel rooms across six hotels and enhanced transport connectivity, including Big Bus tour routes introduced in 2025. In the same year, the District welcomed visitors from more than 147 nationalities, reflecting Dubai’s role as a truly global marketplace.

Officials said Dubai Gold District will play a pivotal role in attracting investment, driving tourism, and shaping the future of the global gold and jewellery trade.