Dubai – Mubasher: Ithra Dubai on Wednesday announced plans to implement the Gold Souk Extension scheme as part of its Deira Enrichment Project (DEP).

Covering an area of 685,000 square metres, Gold Souk Extension will comprise 176 retail units and 225 offices, plus 289 residences, the UAE-based firm said.

“The Gold Souk Extension, like DEP, will look to preserve the character and culture prevalent in this established trading neighborhood, taking into account the distinct heritage of the area as it looks to improve it and help it meet the demands of modern commerce,” Issam Galadari, CEO of Ithra Dubai, commented.

DEP will include 840 retail spaces, 400 offices, hotels, and serviced apartments, plus 2,200 affordable homes, Ithra Dubai noted.

“We hope that the new extension to Gold Souk will be an amalgamation of traditional business centres and modern shopping areas, and hopefully enhance the status of Gold Souk as a shopping, tourist, and business destination,” Tawhid Abdullah, chairman of the Dubai Gold and Jewellery Group, said.

It is worth noting that Gold Souk is one of Dubai’s oldest and most recognisable commercial centres, located in Dubai's commercial business district in Deira.

The company did not state further details concerning the project’s total cost.