Dubai will develop the world’s first “Gold Street” as part of the newly launched Dubai Gold District, a purpose-built hub for gold retail, bullion trading and wholesale activity, Gulf News reported.

Announced by Ithra Dubai, the Gold Street will feature gold elements in its construction and serve as a central attraction within the district. Developers said detailed design and construction plans will be released in phases.

The project was unveiled at an official ceremony 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.

Integrated gold hub

Ithra Dubai said the Gold Street will be part of a wider development bringing together gold and jewellery retail, wholesale trading, bullion services and investment-related businesses in a single destination.

The district will host more than 1,000 retailers across gold, jewellery, perfumery, cosmetics and lifestyle segments. Brands in the area include Jawhara Jewellery, Malabar Gold and Diamonds, Al Romaizan and Tanishq Jewellery.

Joyalukkas has announced plans for a 24,000-square-foot flagship outlet, which it said will be its largest store in the Middle East, the newspaper reported.

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

Tourism and trade growth

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

Tourist access was expanded in 2025 with the introduction of Big Bus sightseeing routes into the district.

Ithra Dubai said the district attracted visitors from more than 147 nationalities in 2025, reflecting Dubai’s role as a global gold trading centre.

In 2024-25, the UAE exported about $53.41 billion worth of gold. Major destinations included Switzerland, the United Kingdom, India, Hong Kong and Turkiye, according to official data. The UAE ranks as the world’s second-largest physical gold trading destination.

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

According to Gulf News, further details on Gold Street’s construction timeline and specifications are expected to be announced in stages.