Stock – Deira Gold Souq extension
The Gold Souk Extension is on track to open in the last quarter of 2021, with new traders and retailers setting up shops at the Deira Enrichment Project (DEP). Image Credit: Supplied

Dubai: The Dubai Gold Souk extension - Dubai’s next big jewellery hub - will open in the coming weeks with new traders and retailers setting up shops at the Deira Enrichment Project (DEP). Located right next to the existing Deira Gold Souq, it will bring updated commercial and retail spaces to the area.

The Gold Souk extension includes Maryam and Hind Plazas, and consists of 295 retail units and 255,000 square feet of office space, in addition to 468 residential units ready for leasing. “The Gold Souk in Deira has always been a main attraction for residents and tourists alike,” said Issam Galadari, Director and CEO of Ithra Dubai, in a statement. “With the Gold Souk Extension, we aim to delight visitors and answer the needs of retailers, all the while maintaining the cultural and traditional charm of the area.”

Several jewelry brands such as Al Romaizan Gold & Jewellery, Malabar Gold & Diamond, Al Kanz Jewellery, and Dhakan Jewellers will launch stores in the new project. A new RAK Bank branch will open in the area as well.

“The comprehensive trade environment will also maximize value for existing and new traders with workshops, a training centre, exchange houses, bullion dealers, banks, serviced offices, co-working spaces, F&B outlets, wide access to public transportation and ample parking space,” said Ithra Dubai.

Big changes

The extension will add shaded walkways, new bridges, open passages, and smart signage for a streamlined connectivity. Extensive infrastructure to facilitate transportation is integrated into the development, including a public transportation hub and bridges connecting residential and commercial buildings. An increase in parking capacity with around 1,100 additional basement parking spaces and 640 spaces in multi-storey car parks is expected to improve movement in and around the area.

Overall, the Deira Enrichment Project will offer over 8,500 car parking spaces to accommodate residents and visitors.