Real estate developer Ithra Dubai has announced that the extension of the Gold Souk is on track to open in the last quarter of 2021.
The company, wholly owned by the Investment Corporation of Dubai and responsible for overhauling Dubai’s historic commercial hub, said new traders and retailers will be setting up shops in the extension.
It added that the Gold Souk Extension project will redefine the overall experience at the renowned traditional gold and jewellery market, home to Dubai’s trading heritage that dates back to the 19th century.
Issam Galadari, director and CEO of Ithra Dubai, said: “The Gold Souk in Deira has always been a main attraction for residents and tourists alike. 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.
“It is a pleasure to see the Dubai Enrichment Project coming to life with every new district we open, and we look forward to adding the Gold Souk Extension, another landmark that will boost the economic activity in Dubai’s original trading hub.”
Ithra Dubai conceived the Gold Souk Extension project following extensive discussions with existing stakeholders. The extension includes Maryam and Hind Plazas and covers an area of around 1.2 million square feet and consists of 295 retail units and 255,000 square feet of office space, in addition to 468 residential units ready for leasing.
A number of international and home-grown jewellery brands, including Al Romaizan Gold & Jewellery, Malabar Gold & Diamond, Al Kanz Jewellery, Dhakan Jewellers, Jawhara, Gold House, Hyatt, New Mashoom, Top Gold, Zayan, Iman, Navran Jewellers, Ismail, Popley and Kalyan Jewellers will soon call the Gold Souk home.
The extension will also add spacious and shaded walkways, new bridges, open passages and smart signage for a streamlined connectivity, Ithra Dubai said, adding that parking capacity will increase with around 1,100 additional basement parking spaces and 640 spaces in multi-storey car parks.
The extension is part of the Deira Enrichment Project which is planned in two phases and follows the launch of Sherina Plaza, Osha Plaza, Afra Plaza, Wadima Plaza, Hind Plaza, Maryam Plaza and One Deira.
Combined, the seven plazas will add 1,052 residential units, 384 retail units, 518,000 square feet of office space and 2,891 parking lots.
The Deira Enrichment Project houses four hotels including the fully operational Adagio Hotel Apartment, Wyndham Hotel, Super 8 Hotel, and the Days Hotel which is scheduled to open this month.
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