“Dubai Jewelery”: includes 250 stores and headquarters of exchange companies and banks
The start of the new gold market early next May
The new market includes more spaces compared to the stores in the old market.
Photography: Mustafa Qasimi
Tawheed Abdullah: “(the group) is currently working on educating companies importing and exporting gold about the importance of switching to blockchain systems.”
picture
Dubai Gold and Jewelery Group reported that the operation and opening of the new gold market, opposite the old gold market, will start in early May, pointing out that a large number of gold and jewelry trading companies have signed, finally, lease contracts for their headquarters in the new market.
She indicated, during a meeting held in Dubai, recently, that the new market will be an additional extension, and will not cancel the old market, adding that the new market includes 250 stores and headquarters with wider areas, in addition to logistical services, exchange headquarters and banks.
Market opening
In detail, the Chairman of the Dubai Gold and Jewelery Group, Tawheed Abdullah, said that “the operation and opening of the new gold market in Dubai, opposite the old gold market in the Deira region, will start on the first of next May,” indicating that “a large number of gold and jewelry trade companies Finally, it signed rental contracts for its headquarters in the new market. ”
He added that «the new market will be an additional shift for the gold trade in Dubai, especially with it being an additional extension, and will not eliminate the existence of the old market, which raises the number of gold and jewelry stores, and constitutes a new expansion of shopping places dedicated to gold and jewelry.
He explained that «the new market will include 250 stores, but with larger areas compared to the old market stores, which allows companies to establish stores for them with modern and innovative components to display jewelry and artifacts products».
Abdullah added that «the new gold market will include many logistical services and headquarters for exchange companies and banks, in addition to money transfer companies and places designated for mailboxes, near outlets to provide drinks and snacks to shoppers, and to provide an integrated system in a more modern way for shopping in the gold and jewelry sector.
He pointed out that «the provision of various vaccines at the international level for the (Corona) pandemic, according to international reports projections, will support greater stability in gold prices during the current year, compared to last year," noting that the price of an ounce of gold is expected to range between 1950 and 2000 dollars, During the first half of this year.
Abdullah explained that «the increase in the activity of tourist groups in the Dubai markets, during the recent period and with the increasing resumption of the link with many international destinations, reflected positively on the revitalization of the retail sales of the artifacts, and also formed a positive impetus for the movement of gold exports from Dubai to many markets in the region and North Africa ».
He said that “(the group) is currently working on stimulating and spreading awareness among companies importing and exporting gold about the importance of switching to blockchain systems and digital policies, which keeps pace with the latest trends in the global gold trade sector,” pointing out that Dubai has the advantage of infrastructure. Advanced technology, which will contribute in the coming period to enhancing and accelerating the transformation of gold trading companies into digital systems, including e-commerce operations, in a manner that parallels traditional trade operations in the markets.
Follow our latest local and sports news, and the latest political and economic developments via Google news