Dubai's shopping festival generates sales of US$65 million in first week

INTRODUCTION TO

DUBAI NEWS

During the first week of the Dubai Shopping Festival (DSF) approximately US$65 million was sold worth of jewelry despite rising gold prices.

Dubai Gold and Jewelry Group (DGJG), according to local news sources, attribute the strong sales to the steady high demand by Indian and Arab customers.

DGJG anticipates total jewelry sales during this DSF to reach approximately US$327 million (Dh1.2 billon), which would be a 20 percent increase compared to the last event.

As an initiative to encourage jewelry buying during the shopping festival, one kg of gold has been raffled daily to individuals that have made purchases of gold jewelry worth over roughly US$140 (Dh500) in participating outlets.

The group has so far raffled six kg of gold since the beginning of DSF 2008 and plans to raffle another 26 kg by the end of the event.

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