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Thursday, January 27, 2022

New gold souq opens near Waqif, raising questions about original market’s viability


A brand new gold souq opened yesterday near Souq Waqif, raising questions about the viability of the old market some 150 meters away.

Located next to the traffic lights on Grand Hamad Street, the new two-story building has a traditional design, is painted in white and brown and decorated with wood carvings. 

It is home to 42 shops selling jewelry brands from all over the world.

Speaking to the Qatar News Agency,  Sheikh Khalifa bin Jassim bin Mohamed al-Thani said of the new souq:

“It is a sophisticated building which is an eloquent testimony to traditional Qatari architecture and designs. The premises could have been bigger, but nevertheless it is home to some of the top brands and it will make its mark in the days to come.” 

Whether this new souq will supplant the old one has yet to be determined.

But residents have been complaining about the original one since as far back as 2008, when the Peninsula reported:

The city’s traditional gold souq has lost its glitter with little scope for expansion or renovation of its decades…

As the traditional souqs in the city are undergoing major renovations, there is talk among the traders that there would be a new spot for jewellers in the new city plan.

They feel that in the absence of an exclusive and sophisticated gold market in the city many customers have been lured to markets in neighbouring countries.

Do you think Qatar needed another gold souq? Will you be paying it a visit?

Credit: Photo by Denn

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