DUBAI (MNN); Dubai has unveiled plans to develop the world’s first “Gold Street” as part of the newly launched Dubai Gold District, a dedicated zone aimed at strengthening the emirate’s position as a global hub for gold retail, bullion trading and wholesale activities, Gulf News reported.
The project was announced by Ithra Dubai, which said the Gold Street would feature gold-inspired elements in its architecture and construction, making it a central attraction within the district. Developers added that detailed design concepts and construction timelines would be revealed in phases.
The launch ceremony was attended by senior officials, including Mohammed Ibrahim Al Shaibani, Managing Director of the Investment Corporation of Dubai; Mohammad Ali Rashed Lootah, President and CEO 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.
According to Ithra Dubai, the Gold Street will form part of an integrated development that brings together gold and jewellery retail, wholesale trading, bullion services and investment-related businesses at a single location. The aim is to create a unified ecosystem rather than a standalone tourist attraction.
The wider Dubai Gold District is expected to host more than 1,000 retailers operating across gold, jewellery, perfumery, cosmetics and lifestyle sectors. Prominent brands already present include Jawhara Jewellery, Malabar Gold and Diamonds, Al Romaizan and Tanishq Jewellery.
Jewellery retailer Joyalukkas has also announced plans to open a 24,000-square-foot flagship outlet in the district, which it described as its largest store in the Middle East.
To support tourism and international trade, the district will be backed by more than 1,000 hotel rooms across six hotels, catering to overseas buyers, traders and visitors. Tourist accessibility was further enhanced in 2025 with the extension of Big Bus sightseeing routes to the area.
Ithra Dubai said the district attracted visitors from more than 147 nationalities in 2025, highlighting Dubai’s growing influence as a global gold trading centre.
Official data shows that during 2024–25, the UAE exported gold worth approximately $53.41 billion, with major destinations including Switzerland, the United Kingdom, India, Hong Kong and Turkiye. The UAE currently ranks as the world’s second-largest destination for physical gold trading.
Dubai Chambers President Mohammad Ali Rashed Lootah said the new district would expand access to Dubai’s gold trading ecosystem, while Ithra Dubai CEO Issam Galadari said the project aims to bring traders, retailers and investors together within a single commercial zone.
Further details regarding the construction schedule and technical specifications of Gold Street are expected to be announced in stages, according to Gulf News.
