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GOLD SOUK Dubai
Dubai

Dubai Gold Souk

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. Retailers in the souk include both well established stores like Damas, ARY Jewellery, Prima Gold and Joy Allukas Jewellery 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. It is bordered to the north by the Dubai Fish and Vegetable Market and the Deira Corniche.

Trade in the gold souk grew during the 1940s due to Dubai's free trade policies which 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 (US$5.8 billion), while trade in diamonds was approximately Dh. 25 billion (US$7 billion) in 2005. 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).

Source:http://en.wikipedia.org/wiki/Dubai_Gold_Souk

Copyright: Rosspisvena
Type: Spherical
Resolution: 6000x3000
Taken: 11/02/2011
Subida: 14/02/2011
Published: 14/02/2011
Número de vistas:

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Tags: oppps; oppps dp batch 22 oppps; full circle; virtual reality photography; gold souk
More About Dubai

Overview and HistoryDubai is one of the seven Arab Emirates and has the highest population in the UAE. Unfortunately for western historians, the pre-Islamic culture used an oral tradition for recordkeeping of its stories and legends, so there isn't much to go on from library sources.But the area around Dubai has been occupied for thousands of years, with many trading centers between the east and west. The earliest mention of Dubai recorded in writing dates to 1095, and it was known as a source of rich pearls to merchants of Venice.Dubai was dependent of Abu Dhabi during the 19th century; it became a protectorate of the UK as of 1892, and engaged in border disputes with Abu Dhabi after WWII. As of 1971 Dubai became part of the United Arab Emirates.From here onwards let the theme of this essay be,"Dubai goes BIG!"There's booming construction going on in Dubai right now, as in, almost 25% of its economy is based on building!Dubai has the capital and initiative to set up some really exciting projects, like Dubai Internet City. It's a free trade zone in a technology park created to attract large companies by offering special tax breaks within its economic zone. So far players like Microsoft, HP, Nokia, IBM and Oracle have moved in with their regional offices... not bad. DIC is now a strategic hub connecting two billion people across the Middle East, Africa and India.Spin around in the Heritage Village area and check out all the construction cranes on the horizon.Getting ThereThe Dubai International Airport has one of the best duty-free shopping malls in the world, which is an attraction all by itself.The airport offers a wide range of world-class services. Transportation service will be car rental or taxi, with buses to appease the traffic problem.TransportationDubai has an extensive taxi system made up of both private and government-operated cabs. The city was planned to hold 600,000 people and it population is now 1.5 million -- you figure out what that means in terms of traffic...Currently there's a $4 billion construction project underway to build a Metro system, expected to be complete in 2012.If you want to have some real fun, take an abras to find the world's most amazing spice market here, at Spice Souk Abra Station. Abras are little wooden boats you take to cross the Dubai canal. It costs about 27cent USD for the trip, you get them at Abra station and ride them between the gold/spice market on one side and the textile market on the other.This is a great way to see old Dubai too, by traveling the Dubai creek. Also, don't forget that the National Bank building reflects the surface of the water and looks like a giant TV.People and CultureChoosing the right season to visit Dubai is of critical importance. Temperatures range from 10C in winter to 48C in the summer. Tourist season starts in October and gets cranking in November.The local currency is the dirham. Carry small change with you for taxi drivers and things, otherwise you will end up giving a bigger tip than you meant to.They drive on the right in Dubai and there is a car accident, on average, every three minutes. Be advised and keep your eyes peeled.Dubai has a zero tolerance drug policy. ZERO. Don't mess around.Things to do, RecommendationsDubai is as ancient as it is modern. See the Chamber of Commerce and Bastakiya for just two of the myriad examples. Bastakiya is a completely-restored neighborhood from an old merchants' settlement. A really popular historic destination to visit is one of the of three watchtowers guarding the city of Burj-Nahar in Deira.Dubai is the upscale shopping capital of the world, but its charming old markets (souks) are where it all comes from. If you're not from around here, get ready to learn about bargaining...Here's the old market called Souk Bur Dubai, take a look at your shopping schedule and dive in!Al-Sabkha is one of the smaller communities in Dubai but it's got tons of markets to poke through.Clubbing: Dubai has strict liquor laws (and pork laws) so most of the nightclubs are located inside hotels, where they already have some sort of liquor license. Check out Zinc, Planetarium, Kandy Club, and Peppermint to get your dose of bass.Well, you can't exactly climb up this one, but here's the clock tower.Just wait until the Burj Dubai is finished, then you'll REALLY have something to get a view from! The Burj Dubai will be the world's tallest structure when it's done. Office space is set for about $4,000 per square foot, ready to go in September 2009. Cheap! It's part of a development that when finished will host thirty thousand homes, nine hotels, seven acres of parkland, and the Dubai Mall -- slated to be the largest mall in the world.Dubai is going big! Get there and have a look for yourself.Text by Steve Smith.


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