DMCC, the Free Zone and Government of Dubai Authority on commodities trade and enterprise have announced the completion of three rough and polished diamond tenders hosted between 16 and 23 July 2019 by the Dubai Diamond Exchange (DDE), a subsidiary of DMCC.
Over 200 companies convened in Almas Tower to take part in the three separate tenders hosted by Rapaport, Stargems and Trans Atlantic Gem Sales (TAGS).
“It has been a challenging year for the diamond industry overall. However, the success of these tenders serves to show that there remains healthy demand for rough diamonds if the quality and price on offer are right,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
Anthony Peter, Owner, Trans Atlantic Gem Sales said: “The Dubai Diamond Exchange has assured that professional and safe standards are maintained. This week, we welcomed more than 75 companies and generated sales of around USD 20 million.”
Shailesh Javeri, Chairman, Stargems Group added: “We have hosted several tenders at the Dubai Diamond Exchange in the past, all of which have been successful. In addition, the infrastructure and facilities available alongside the safe and regulated process are unmatched, and this is why we continue to select DDE as the setting for our sales. We look forward to continued collaboration with DMCC in our growth journey.”
Michelle Ickowics, CEO, Rapaport Diamond Corporation, commented: “Aside from Dubai’s strategic location, we have chosen to conduct our tenders at the Dubai Diamond Exchange on account of its safe environment, strict regulation and the team of industry experts. Given the success of our tenders here, there is little doubt that we will be returning to Dubai for additional tenders in the near future.”
The DMCC also stated that though the DDE is currently under renovation it had no impact on its business operations, with tenders regularly taking place during this period. On completion, it will be one of the biggest tender floors in the world with up to 40 tables.
The newly refurbished facility will be unveiled ahead of DMCC’s flagship Dubai Diamond Conference, taking place at Almas Tower on 26 September 2019.
