Sharjah: Sharjah's Department of Economic Development reports a surge in commercial licenses issued to traders in gold, precious stones, and pearls, reaching 727. This economic upswing coincides with the expansion of GG & Sons, a major player in the emirate's gold market.
Sharjah Chamber of Commerce and Industry membership has also seen a remarkable 138% growth over the past decade, further solidifying the emirate's position as a flourishing hub for precious metals.
GG & Sons
GG & Sons Jewellery boasts a rich history, dating back to 1965 when its founder arrived from India to open the first gold shop in the alleys of the Central Souq. The company has grown alongside the market, recently expanding to four out of six branches dedicated to gold within the Souq. This strategic move reflects the thriving gold trade in Sharjah.
Central Souq
Celebrating its heritage and shimmering with gold, the Central Souq, also known as the Blue Souq, is a popular tourist and commercial destination. Its historical significance and diverse outlets attract shoppers and tourists worldwide.
Opened in 1978, the Souq is an architectural masterpiece. Designed in the form of a steam train adorned with Islamic inscriptions and painted a picturesque blue, it stands out amongst Sharjah's landmarks. Its strategic location next to the Khaled Lagoon adds to its charm.
The Souq comprises two main wings. One wing is dedicated to the gold trade, while the other features carpets, antiques, fabrics, and more. Home to around 600 shops, the Central Souq offers a unique shopping experience, blending tradition and modernity.
Gold remains precious
Despite fluctuations in global gold prices, the Sharjah Gold Market continues to attract visitors. While the World Gold Council reports a decline in demand for gold jewelry in some markets, Sharjah merchants see steady demand, with increased purchases during special occasions.
Yemeni trader Ahmed Salah highlights the Souq's adaptability and innovation, underscoring its position as a leading jewelry destination. He mentions regular customers from Oman, Qatar, and Saudi Arabia, drawn to the wide range of stores offering unique designs with high quality.
Trader Wael Al-Yafei emphasizes the enduring demand for gold as a haven investment. He adds that the Souq caters to various tastes and budgets with its diverse selection of pieces.
Heritage and trade
The Central Souq is more than just a marketplace; it's a symbol of heritage, trade, and tourism. Visitors come not only to buy gold but also to experience the atmosphere of the market, steeped in history.
Irish visitor Elaine Cair describes the Souq as a unique shopping experience that combines heritage, luxury, and beautiful jewelry. Shoppers like Umm Ali from Oman and Nicolas Blandel from France praise the Souq's charm, design, and diverse offerings.
Egyptian visitor Doaa Ahmed finds the Souq to be a unique blend of shopping malls and tourist destinations.
Luxury and originality
While modern jewelry takes center stage in many shops, the Souq also preserves traditional Emirati women's jewelry. Each piece tells a story of cultural identity.
The "Al-Maria" necklace, a long gold chain adorned with small, "trembling" gold coins, is a prominent example. Saleh, a seller, confirms the continued demand for "Al-Maria" and other traditional pieces like "Al-Murtaza" and "Al Kawashi."
Emirati women like Umm Abdullah cherish these heritage pieces, considering them precious collectibles that celebrate their history and beauty. The Souq also features other heritage pieces like headpieces ("bowl"), "Al Kawashi," "knacks," and heavy waist belts.
Every corner of the Sharjah Central Souq tells a story, taking visitors on a journey through time and cultures. The exquisite craftsmanship and rich heritage combine to create a unique shopping experience, a true testament to Sharjah's golden legacy.