Dubai's DMCC hosts biggest rough diamonds tender ever in UAE

Dubai: Dubai's DMCC free zone has hosted the biggest tender to be held in the UAE for rough diamonds. In all, 379,912 carats of rough diamonds were sold, valued at $87.47 million (Dh321.29 million) with 115 clients picking them up.

Over 250 companies participated in the tender and 500 individuals flew into Dubai to take part in the event. The tender, organised by Stargems DMCC in Almas Tower, offered clients the opportunity to bid for rough diamonds from South Africa and Angola over an eight-day period.

“Despite the obstacles posed by the pandemic, this record-breaking tender is a tremendous boost of confidence for the entire industry and testament to the strength and resilience of Dubai’s diamond ecosystem,” said Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC in a statement. “In light of this, we are optimistic about the future of the industry and confident that Dubai is well on its way to becoming the world’s leading diamond trading hub.”