Gemological Institute of America to set up lab in Dubai’s DMCC

Gemological Institute of America to set up lab in Dubai’s DMCC

Dubai: The Gemological Institute of America (GIA), the foremost authority on diamonds, coloured stones, and pearls, will set up a laboratory in Dubai’s DMCC, the free zone announced on Tuesday. The lab, set to open in mid-2023, will be based out of two floors in Uptown Tower as part of a nine-year deal. It will also create 500 new jobs in the business district. Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, said: “We are immensely proud to be hosting GIA in DMCC’s Uptown Tower, Dubai. Representing a truly world-leading commercial, residential and retail offering, Uptown Tower has commanded significant interest from international and local businesses, as shown by the substantial office space pre-leased so far. Adding the GIA to our business district further solidifies and forges our strategy of building an interconnected business community that supports and encourages global trade.” The establishment of the laboratory, spread across 41,000 sq. ft, reaffirms Dubai’s status as a leading hub for the global diamond industry, with the emirate significantly accelerating its diamond trade growth over recent years. The UAE recorded $11 billion worth of rough and polished diamond trade in Q1 this year, a 36 per cent year-on-year increase. The UAE