Dubai Gold Souk - PowerPoint PPT Presentation

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Dubai Gold Souk

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Dubai Gold Souk or Gold Souk (Arabic: سوق الذهب‎), is a traditional market (or souk) in Dubai, United Arab Emirates. The souk is located in the heart of Dubai's commercial business district in Deira, in the locality of Al Dhagaya. The souk consists of over 300 retailers that trade almost exclusively in jewellery. – PowerPoint PPT presentation

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Title: Dubai Gold Souk


1
Dubai Gold Souk
2
Dubai Gold Souk
  • Dubai Gold Souk or Gold Souk (Arabic ???
    ??????), is a traditional market (or souk) in
    Dubai, United Arab Emirates. The souk is located
    in the heart of Dubai's commercial business
    district in Deira, in the locality of Al Dhagaya.
    The souk consists of over 300 retailers that
    trade almost exclusively in jewellery

3
Retailers
  • Retailers in the souk include both well
    established stores like Damas, ARY Jewellery,
    Shyam Jewellery and Joy Alukkas as well as
    smaller stores that operate mainly in the gold
    souk. By some estimates, approximately 10 tons of
    gold is present at any given time in the souk

4
Location of Dubai Gold Souk
  • It is bordered to the north by the Dubai Fish and
    Vegetable Market and the Deira Corniche near
    Baniyas Square at Sikkat al-Khali Street which is
    walking distance from Deira Bus Stand. Dubai Gold
    Souk can also be reached by taking the Dubai
    Metro to Al Ghubaiba and a regular Abra (boat)
    from nearby Bur Dubai across the creek. The Dubai
    Gold Souk is 5 minutes walk from the Old Souk
    marine station.

5
History
  • Trade in the gold grew during the 1940s due to
    Dubai's free trade policies that encouraged
    entrepreneurs from India and Iran to set up
    stores in the souk. Despite a general slump in
    the global gold market, Dubai's share of value of
    trade in gold and diamonds to its total non-oil
    direct trade increased from 18 in 2003, to 24
    in 2004. In 2003, the value of trade in gold in
    Dubai was approximately Dh. 21 billion (US5.8
    billion), while trade in diamonds was
    approximately Dh. 25 billion (US7 billion) in
    2005.

6
Dubai Gold Souk
  • India is Dubai's largest buyer of gold,
    accounting for approximately 23 of the emirate's
    total gold trade in 2005. Switzerland was Dubai's
    largest supplier of gold ingots, wastes and
    scrap. Similarly, India accounted for
    approximately 68 of all diamond-related trade in
    Dubai Belgium's share in Dubai's diamond trade
    was about 13 (2005).

7
Contact
  • For more details about Dubai Gold Souk, Visit
  • http//www.malloftheemirates.com/blog/dubai-touris
    m/dubai-gold-souk.aspx to know more
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