There are many historical documents which help us to know about the roots of Dubai —
Dubai is a multicultural hub of trade with a quite interesting history. If ever you get a chance to visit Dubai, try to visit Dubai Museum, Bastakiya, and Shindagha, amongst other tourists attractions like Burj Khalifa, Burj Al Arab, Palm Island etc,. What is especially remarkable is that even with so much diversification of trade in Dubai, historical trades and markets hold exceptional charm, like no other.
The most prominent of these is the Gold Souq, which is one of the most famous trade hubs in Dubai. Located on Deira side, it personifies chaos which is delightful in its own way. The rich cultural history is kept intact even in modes of locomotion over water, that will let you to ride on a wooden boat or Abra, commuting passengers for a minimal fare over the creek; hop on and stop by Spice Souq. Load your senses with stunning architecture and aromatic spices. It is the perfect place to find unbeatable varieties at the best price possible, also famous for the dynamic range of Iranian traditional outfits and specialties.
It is noteworthy that the footfall in the Gold market is not of local shoppers, but primarily of tourists who wander around and cannot help marveling at the wanton display of abundant, glittering jewellery in the shops where people can buy as well as exchange gold or gemstones for money. Even with the onset of VAT which has lead to a decline in the bargaining power of customers, it has not deterred them from its purchase manifold as the designs and prices offered a yet unbeatable.
Most of the retailers and shopkeepers are Asian and business at that prime location never fades. The comfortable, indoor area with ensured security allows tourists to enjoy their shopping experiences to the fullest. If we talk about the architecture of the souq, it defines the history itself.
Dubai gold souq is open Sat-Thur, 9am-12 noon and 5pm-10pm; Fri, 5pm-10pm. But these timings differ according to the rush and demand of buyers. During Ramadan, shops remain closed for longer hours during the day, and stay open until midnight. Trades besides gold purchase and sale thrive as well in Gold Souq, being one of the famous tourists attraction as a primitive destination spot.
Earlier this was an area which historically had the highest lease and renting options in Dubai. As the new construction is coming up, it will be engrossing to track the fluctuating rental rates in upcoming days. Current rents for a small outlet starts from as high as 1 million dirhams, depending on the location and its prominence. This particular part of Dubai is restricted from any major modifications so as to maintain its historic identity. For a general bystander, the 'Grand Souq’ refers to the number of shops and alleyways around the Spice and Gold Souq. Both history and trade come hand in hand when we talk about the Gold Souq area in Deira Dubai.