After record-breaking diamond tender last month, DMCC to host six more in January

Dubai: DMCC will host six diamond tenders in its Dubai Diamond Exchange, the world’s largest diamond tender facility, in January. This follows a record-breaking tender hosted last month, which saw the largest ever rough diamond tender sales in the UAE.

Three new companies will be hosting tenders - IHenning, KOIN International and Choron / Bonas Group - in addition to regular long-term hosts Trans Atlantic Gems Sales (TAGS), Stargems and Rapaport.

“At the start of a new year, we are pleased to be welcoming diamond traders to Dubai to participate in a series of rough diamond tenders, in what we believe is a boost of confidence for the industry,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.

“The emirate’s strategic location and the tailor-built diamond ecosystem DMCC has developed over the years place us in a position of strength, enabling us to continuously attract buyers and trade to Dubai,” he added.

Dubai sits at the crossroads of the rough diamond trade with direct flights to the leading diamond hubs. The recent agreement signed between DMCC and the Israel Diamond Exchange, is set to further boost regional trade and support the growth of the global diamond industry, the company said in a statement.

In last month’s tender, a total of 379,912 carats of rough diamonds were sold, valued at $87.47 million (Dh321.29 million) with 115 winning customers. Over 250 companies participated in the tender and 500 individuals flew into Dubai to take part in the event with delegates from India, Hong Kong, Russia, Israel, Belgium and Lebanon.