New Dubai Gold District to see world’s first ‘Gold Street’ as new jewellery hub launches

Dubai: Ithra Dubai has announced plans to build what it described as the world’s first “Gold Street” as part of the newly launched Dubai Gold District, a purpose-built destination bringing together gold retail, bullion trading and wholesale activity in one location.

Developers said the Gold Street will be constructed using gold elements and is intended to form a central attraction within the district. Detailed design and construction plans will be released in phases.

The announcement was made during the official unveiling of Dubai Gold District, attended by Mohammed Ibrahim Al-Shaibani, managing director of the Investment Corporation of Dubai; Mohammad Ali Rashed Lootah, president and chief executive of Dubai Chambers; Dr Juma Al Matrooshi, assistant to the secretary general of the Dubai Free Zones Council; and Issam Galadari, chief executive of Ithra Dubai.

Ithra Dubai said the Gold Street will sit within a wider development that consolidates gold and jewellery retail, wholesale trading, bullion services and investment-linked businesses in a single destination.

The district comprises more than 1,000 retailers across gold, jewellery, perfumery, cosmetics and lifestyle categories. Brands operating in the area include Jawhara Jewellery, Malabar Gold and Diamonds, Al Romaizan and Tanishq Jewellery. Joyalukkas has announced plans to open a 24,000-square-foot flagship store, which it said will be its largest in the Middle East.

Developers said the Gold Street is designed to complement the district’s retail and trading infrastructure rather than operate as a standalone attraction.

Dubai Gold District is supported by more than 1,000 hotel rooms across six hotels, aimed at serving international visitors, buyers and trade partners.

Tourism access was expanded in 2025 with the introduction of Big Bus sightseeing routes into the district, improving connectivity for visitors.

Ithra Dubai said the district received visitors from more than 147 nationalities in 2025. The launch comes as the UAE continues to rank among the world’s largest physical gold trading centres.

In 2024–25, the country exported about $53.41 billion worth of gold, with Switzerland, the United Kingdom, India, Hong Kong and Türkiye among its major trading partners, according to official figures. The UAE is the world’s second-largest physical gold trading destination.

Lootah said the new district would expand access to Dubai’s gold trading ecosystem, while Galadari said the project was designed to cluster traders, retailers and investors within a single commercial zone.

Further details on the construction timeline and specifications of the Gold Street are expected to be announced in stages.