DMCC’s Dubai Diamond Exchange Hosts Rough Diamond Tender #Dubai - Dubai City Guide
Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Download our Media Kit

Restaurants

Education


 





Home / News /
   

DMCC’s Dubai Diamond Exchange Hosts Rough Diamond Tender
(25 November 2019)

 

The Dubai Diamond Exchange, DDE – a subsidiary of DMCC, the Government of Dubai Authority on commodities trade and enterprise – announced today that it had successfully hosted one of the largest rough diamond tenders ever to take place in the UAE.

Stargems – a DMCC-registered international diamond company with interests in all aspects of the supply chain from rough to retail –– held its record-breaking tender in Almas Tower recently. Over 577,000 carats of rough diamond was viewed across DDE’s 41 tables, with over 200 international buyers in attendance.

The total value of diamonds sold was just under US$50 million (AED180 million). The rough diamonds on sale originate from across Africa, including over 500,000 carats from the SACIM mine in the Democratic Republic of the Congo.

"I am encouraged to see such a strong tender on the Dubai Diamond Exchange. Surpassing US$25 billion in 2018, diamond trade through Dubai is on the rise and the emirate will soon be the world’s leading rough and polished diamond trading hub. DMCC has an important role to play in driving the diamond trade in the city and in turn, increasing the industry’s contribution to the economic diversification plan of the UAE," said Feryal Ahmadi, Chief Operating Officer, DMCC.

DMCC recently unveiled the refurbished DDE, which is now the largest diamond tender facility in the world. The DDE remains the only World Federation of Diamond Bourses accredited exchange in the Middle East.

"Our November tender has set a new record for Stargems. We are delighted with the overwhelming interest shown in the tender, and the competitive price achieved for the rough stones. Through Dubai, Stargems is able to connect buyers and sellers and take advantage of the city’s connectivity. This is why we will continue to stage tenders on the DDE floor, and have reason to be positive about future sales here in Dubai," said Shailesh Javeri, Chairman and Founder, Stargems Group.

In the first half of 2019, the value of gold, diamonds and jewellery trade in Dubai reached US$50 billion (AED180 billion), a three percent increase from the same period last year. In October 2019, the UAE Cabinet approved a policy to enhance the country's position as a global hub for gold and jewellery trade, and launched a range of initiatives and tools to support its implementation.

We accept Guest Posts


DubaiCityGuide.com is owned and managed by Cyber Gear



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
1269
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance