DMCC’S Dubai Diamond Exchange to host six diamond tenders this month

DMCC’S Dubai Diamond Exchange to host six diamond tenders this month

Dubai – Mubasher: 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 (DDE) 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, according to a press release on Wednesday.

During 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 such as Surat, Mumbai in India, Israel, South Africa, Russia, and Belgium. The emirate has become a leading diamond hub, with trade rising from AED 13.2 billion ($3.6 billion) in 2003 to AED 84 billion ($23 billion) in 2019.

In December 2020, DMCC hosted the largest rough diamond tender ever to