DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – will host six diamond tenders in its Dubai Diamond Exchange, the world’s largest diamond tender facility, in January 2021. This follows a record-breaking tender hosted in December 2020, which saw the largest ever rough diamond tender sales in the UAE, in a sign that the industry is regaining momentum.

Throughout the month, three new companies will be hosting tenders on the new DDE’s floor for the first time – IHenning, KOIN International and Choron / Bonas Group – in addition to regular long-term hosts Trans Atlantic Gems Sales (TAGS), Stargems and Rapaport.

Dubai sits at the crossroads of the rough diamond trade with direct flights to the leading diamond hubs including Surat, Mumbai in India, Israel, Angola, South Africa, Russia and Belgium. Coupled with DMCC’s state-of-the-art infrastructure and world-class services, the Emirate has become a leading diamond hub, with trade rising from AED 13.2 billion (USD 3.6 billion) in 2003 to AED 84 billion (USD 23 billion) in 2019. The recent Memorandum of Understanding signed between the the DMCC and the Israel Diamond Exchange, is set to further boost regional trade and support the growth of the global diamond industry.

Rajesh Gandhi, CEO, Choron Group: “The Choron Group is looking forward to hosting our inaugural rough diamond tender in collaboration with Bonas at the state-of-the-art DDE facilities. We will be offering over 130,000 carats of Angolan and Russian goods with an extensive product range. Dubai has solidified its position as the preferred rough diamond hub throughout this pandemic and its accessibility ensures that we are able to effectively service our clients from around the world.”

In December 2020, DMCC hosted the largest rough diamond tender ever to take place in the United Arab Emirates organised by Stargems DMCC. A total of 379,912 carats of rough diamonds were sold, valued at USD 87.47 million (AED 321.29 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.