DDE to host six diamond tenders this month
Supplied photo
In December 2020, DMCC hosted the largest rough diamond tender ever to take place in the UAE organised by Stargems DMCC.
The Dubai Multi Commodities Centre (DMCC) will host six diamond tenders in its Dubai Diamond Exchange (DDE), 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.
Diamond trade within the free zone jumped to Dh84 billion in 2019, from Dh13.2bn ($3.6bn) in 2003, according to DMCC.
The recent Memorandum of Understanding signed between the DMCC and the Israel Diamond Exchange is also expected to support the growth of the local diamond industry.
“We will be offering over 130,000 carats of Angolan and Russian goods with an extensive product range,” Rajesh Gandhi, chief executive of Choron Group, said.
In December, DMCC hosted the largest rough diamond tender ever in the UAE, organised by Stargems DMCC. A total of 379,912 carats of rough diamonds were sold, valued at $87.47 million with 115 winning customers. Over 250 companies participated in the tender.
Dubai Diamond Exchange of DMCC set to host six tenders
06 Jan 2021 All tenders will be held under strict health and safety measures implemented by DMCC. DMCC, the Free Zone and Government of Dubai Authority on commodities trade and enterprise, will host six diamond tenders in its Dubai Diamond Exchange (DDE), 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.
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