Dubai: Shoppers can win 33 kilos of gold worth Dh5 million during the Dubai Shopping Festival (DSF) starting December 26, organisers said on Wednesday.
During 33 days of the 23rd season of DSF, which runs till January 27, the group’s mega jewellery promotion will choose 100 winners, including a mega winner on the final day raffle who can take home one kilogram of gold. Three lucky shoppers will win gold prizes every day — one 500gm gold bar and two 250gm bars, Dubai Gold and Jewellery Group (DGJG) announced.
Customers purchasing gold jewellery worth Dh500 will be entitled to one raffle coupon and those who buy diamond jewellery, pearl or watches worth Dh500 will get two raffle coupons to take part in the daily draw.
Raffle coupons will be provided by all participating jewellery outlets, kiosks and all terminals of Dubai Duty Free during DSF.
The organisers said gold and jewellery sales are expected to exceed Dh10 billion during the promotion.
“We are here to announce one more year of the big promotion of 33 kilos of gold which will be offered every single day of the DSF. This year, we hope for an impressive sale season as the gold price is at very affordable levels,” said Tawhid Abdullah, chairman, DGJG.
Abdullah said the group has given away over 950 kilos of gold over the last 22 years.
“The amount of sales has been exceeding Dh10 billion during DSF every year and we are expecting the same for this year.”
He added that the gold raffle is one of the major highlights of the festival and the gold winnings have made a huge difference to the lives of winners.
Organisers also revealed a 24-carat gold coin specially designed for the 23rd anniversary of the DSF.
“The gold coin is made in the UAE by Emirates Gold and comes in four grams and eight grams. The price of this investment bar will be quoted based on the day’s rate. The objective was to provide a product that ensures a good value for money,” said Abdullah.
Asked whether the coin will be charged value-added tax (VAT), he said: “It is not yet clear as such if the [DSF] coin will be exempt from VAT, however, we hope it is being made to match an exempt investment bar.”
Abdullah Hassan Al Amiri, director of Raffles and Promotions, Dubai Festivals and Retail Establishment, said the daily gold raffle is expected to give a timely boost to the retail sector.
“We expect thousands of visitors to arrive in Dubai during DSF to grab the special offers from participating gold and jewellery outlets, in addition to enjoying the exciting events and picking up more bargains in this annual shopping extravaganza,” he said.
Gold raffle at a glance
Total volume of prizes: 33kg of gold
Promotion period: 33 days (from December 26 to January 27)
Total number of winners: 100
Daily prizes: 1st prize 500gm; 2nd prize 250gm; 3rd prize 250gm
Mega prize: One kilo gold for one winner on the last day
Gold industry hopes to remain competitive despite VAT
Dubai: The gold and jewellery industry in Dubai will remain competitive despite the introduction of value-added tax (VAT) in January, a prominent industry figure said on Wednesday.
Tawhid Abdullah, chairman of Dubai Gold and Jewellery Group (DGJG), said with the number of consumers, including the 13 million tourists coming to Dubai every year, the industry is confident and positive about next year.
“Despite VAT coming into effect from next year, we are confident and will continue to be the most competitive in price quality and service,” he said.
“Let’s look at the positive side of VAT. It is, in one way or the other, improving the efficiency of the trader and if anything is going to be a challenge on one hand, on the other, it’s trying to make more business especially by improving the efficiency of the industry,” he added.
“We are all looking forward to continue being number one worldwide in price, quality, volume and designs and ahead of everyone.”
According to him, the size of the total jewellery trade was around Dh274 billion in 2017.
“We have had one of the best years ever and we hope next year will be even better, so we are closing the year in a very positive figure in our industry. The gold prices have been quite supportive as we have not seen a huge hike. It was ranging between (Dh)1,100 and (Dh)1,350 which is quite a reasonable range,” he said.