Dubai’s Gold Souq, popular with tourists and residents alike, is getting a facelift to improve trading standards and attract more visitors.
As well as upgrading health and safety procedures, there will be random sample testing to ensure that the gold and jewellery on sale complies with specifications and the calibration of electronic scales to check their accuracy.
Khalid Ahmed, head of urban heritage design projects at the Architectural Heritage Department, said care should be taken to develop the souq in innovative ways to keep abreast of the urban development in the emirate while preserving the distinctive character of the building.
The façade will also be touched up, and umbrellas, ventilation, lighting and smart signage will be added.
Located in Deira, the Gold Souq is a traditional market for buying and selling gold. Some estimates have it that approximately 10 tonnes of gold is present on location at any given moment.
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Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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