starting "Dubai Gold District" Global Center for Gold and Jewelry Trade

DUBAI, 27 JANUARY / WAM / Ithra Dubai officially launched “Dubai Gold District”, an integrated destination specifically designed to enhance the emirate’s position as the most important global destination for gold and jewelery trade, in line with Dubai’s march towards global economic leadership, and at a pivotal moment for the gold and jewelery sector in the region.

This launch represents a new stage in Dubai’s development as a global trade, retail and business centre.

Dubai Gold District was developed as a unified destination that brings together the entire value chain of the gold, jewellery, precious metals and gemstones sector in one location, to include retail, bullion, wholesale trade and investment.

The district contributes to consolidating Dubai’s position as one of the most reliable global destinations in the field of trade in gold, jewellery, precious metals and gemstones by unifying these activities.

The district was unveiled today in Dubai, in the presence of His Excellency Mohammed Ibrahim Al Shaibani, Managing Director of the Investment Corporation of Dubai, His Excellency Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, Dr. Juma Al Matrooshi, Assistant CEO for Investments and Partnerships at the Dubai Integrated Economic Zones Authority, and Issam Galadari, CEO of Ithra Dubai, in addition to an elite group of major merchants working in the region for many years.

This event is a prominent milestone in Dubai’s D33 economic agenda, and highlights the neighborhood’s pivotal role in shaping the future of gold and jewelry trade globally.

The launch reflects the continued role of the UAE as a leading global center for trade in gold and precious metals, as the country exported approximately 53.41 billion US dollars in gold during the years 2024-2025, with major trading partners including Switzerland, the United Kingdom, India, Hong Kong and Turkey, which consolidates the UAE’s position as the second largest destination in the world in terms of physical gold trade.

His Excellency Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, stressed that this announcement constitutes an important part of the process of developing global trade, as it provides investors and market traders with unprecedented access to one of the most active and trusted gold trading centers in the world, explaining that this initiative strengthens Dubai’s position as a global gateway for gold and jewelry trade, and an essential part of the global trade system.

For his part, Issam Galadari, CEO of Ithra Dubai, said that the launch of ‘Dubai Gold District’ represents a new and very important chapter in the gold and jewelry sector in the emirate, and the district brings together a diverse and wide system of merchants, investors, retailers and international brands, by combining heritage, operational capabilities and investment opportunities, in a way that serves shoppers and visitors across international markets and major global trade corridors.

Ahmed Al Khaja, Executive Director of the Dubai Festivals and Retail Corporation, affiliated with the Department of Economy and Tourism in Dubai, said: “The launch of ‘Dubai Gold District’ represents a milestone in the development of our city as a global destination for trade, culture and tourism. Based on an ambitious leadership vision, and in line with the Dubai Economic Agenda D33, which aims to consolidate Dubai’s position as a leading global city for business and entertainment, this transformational project contributes to strengthening our position as one of the most prominent global centers for gold and jewelery trade, in addition to innovation.” New and inspiring experiences for visitors and residents alike. Gold is an integral part of the cultural and commercial fabric of Dubai, as it symbolizes its ancient heritage, prosperity and entrepreneurial spirit rooted in it. Through this prominent destination, we are not only celebrating this legacy, but rather we are reimagining it in line with a new era led by creativity and sustainability.

He added that this achievement reflects the strength of cooperation between the public and private sectors, and embodies the shared ambition of our partners and stakeholders to consolidate Dubai’s position at the forefront of innovation and excellence at the global level. As we continue to diversify the tourism and retail scene in the emirate, the Dubai Gold District will play a pivotal role in attracting international visitors, stimulating investment, and enhancing Dubai’s reputation as the best city in the world to visit, live and work.

Dubai Gold District unifies various gold, jewellery, precious metals and gemstone activities within one destination as the “new home of gold”, and includes a wide range of well-established global and regional brands in this sector, offering exceptional diversity, high quality and added value to buyers, merchants and investors alike.

What distinguishes Dubai Gold District globally is the unprecedented diversity of its audience base, as it brings together one of the widest forms of diversity in the categories of buyers, merchants and consumers within one destination.

During 2025 alone, the neighborhood welcomed shoppers from more than 147 nationalities, reflecting Dubai’s unique position as a truly global market for gold and jewelry.

One of the most prominent landmarks expected in the neighborhood is the launch of the first “Gold Walk” in the world, which is a walkway created using gold to form a unique tourist destination and landmark for visitors to the neighborhood, with more details to be revealed in later stages.

Dubai Gold District includes more than 1,000 retailers in the gold, jewellery, precious metals, gemstones, perfumes, cosmetics and lifestyle sectors, including flagship stores for prestigious international brands such as Jawhara Jewellery, Malabar Gold and Diamonds, Al Romaizan and Tanishq Jewellery. Joyalukkas announced plans to open a flagship store with an area of ​​24,000 square feet, which will be the largest for the brand in the Middle East.

Dubai Gold District also contributes to enhancing Dubai’s broader retail and tourism offering, as it is supported by more than 1,000 hotel rooms spread across six hotels, providing easy access for international visitors, buyers and trade partners.

The introduction of “Big Bus” tourist routes to the neighborhood in 2025 contributed to enhancing its accessibility and tourist appeal, and consolidating its role as a major destination for shopping for gold and jewelry.

On the other hand, Rashid Al Harmoudi, Senior Director of the Commercial Sector at Ithra Dubai, confirmed that the idea of ​​​​launching the Dubai Gold District came from a vision aimed at establishing a new financial and commercial center in the Emirate of Dubai, serving global markets in the wholesale and retail trade of gold, jewelry and precious metals, and constitutes a qualitative leap compared to the existing traditional markets.

Al Harmoudi said, in a statement to the Emirates News Agency, WAM, that the Dubai Gold District, which was launched by Ithra Dubai, is not just a market, but rather an integrated system that combines wholesale and retail commercial activities, along with residential units, hotels, and supporting services, providing an integrated environment.

He explained that the project is located in the Deira area, and currently includes about a thousand units distributed between offices and retail stores, and the occupancy rate in general reached about 90%, with 100% in offices and 85% for retail stores.

He pointed out that the project includes about 1,700 residential units, 96% rented, and includes six hotels that serve the various components of the system, stressing that all elements of the project have become ready and equipped to support the growth of the gold and jewelry sector and enhance its competitiveness.

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