One of the most visited areas of Dubai - the Gold Market - is transforming with the advent of new stores and office buildings.
Dubai's historic Deira district, namely the Gold Souq - the famous Gold Market - is undergoing a vast transformation. A new cluster of buildings, including residential and hotel facilities, are being built on a plot of land adjacent to the market. The project is supervised by the state general developer.
Anil Dhanak, Managing Director of Kanz Jewelery and board member of Dubai Gold & Jewelery Group, said there would be around 200 jewelry stores and separate office space for wholesalers.
The new project will be implemented on the territory between the library and the new fish market, where temporary parking was previously organized.
"We believe that the first complex of buildings can be ready in 18 months. It will include 210 outlets for retailers," said Abdul Salam, Executive Director of Malabar Gold & Diamonds and member of the board of Dubai Gold & Jewelery Group.
The retail cluster will occupy the first floors of new buildings. The general developer intends to maintain the atmosphere of the Gold Market through a combination of new facilities with the historical zones of Gold Souq.
