Creates 500 new job opportunities in the Dubai Multi Commodities Business District

The American Gemological Institute establishes a new laboratory in Dubai

The laboratory will occupy two floors of "Uptown Tower".

From the source

The Dubai Multi Commodities Center, the free zone and authority of the Government of Dubai concerned with trade in goods and projects, announced that the American Institute of Gemological Sciences, which is the world's first reference in the field of diamonds, colored stones and pearls, will rent through its affiliated unit: «GIA Lab - Center» Dubai Multi Commodities, a space for the establishment of a new laboratory for gemology in the "Uptown Tower" of the center.

The institute's new laboratory, scheduled to open in mid-2023, will occupy an area of ​​41,000 square feet spread over two floors of the 340-meter-high tower, under a nine-year lease contract. The opening of the new laboratory is expected to create 500 new jobs in the business district. Affiliated with the Dubai Multi Commodities Centre.

Emirate's position

The statement pointed out that the Institute's joining the DMCC confirms the distinguished position that Dubai enjoys, as a leading center for the global diamond industry, as the emirate has made great efforts in recent years to accelerate the growth of the diamond trade in and through it.

The volume of rough and polished diamonds trading in the UAE reached $11 billion during the first quarter of this year, an increase of 36% year on year, at a time when the country is currently the largest center for trading rough diamonds in the world and is rapidly approaching becoming the largest market. Trading in polished stones.

The establishment of the new Gemological Institute of America laboratory is expected to support the growth of the polished diamond sector in the emirate.

business solutions

Ahmed bin Sulayem, CEO and CEO of DMCC, said: “We are proud to host the new Gemological Institute of America’s new laboratory in the center’s Uptown Tower in Dubai, which provides world-leading commercial, residential and retail solutions. With great interest from international and local companies, as evidenced by the large office space leased so far.”

He stressed that the institute's joining the center's system confirms the efficiency of its strategy of building an interconnected business community that supports and encourages global trade.

He added: “Dubai is spearheading the development of the global diamond industry by supporting every stage of the diamond supply chain.

In addition to connecting producers, processors and consumers around the world through the Dubai Diamond Exchange, we can now further support the polished diamond industry, by hosting the DMCC as the world’s most prominent diamond grading entity.”

Perfect choice

For his part, Executive Vice President and Head of Laboratories and Research at the Gemological Institute of America, Tom Moses, said: “We see DMCC, given the increasing importance of Dubai as a global center for diamonds, and the excellent infrastructure it provides, as an option. It is ideal for expanding the capabilities and presence of the Institute,” pointing out that the emirate’s proximity to the most important diamond manufacturing and production centers, and its efficient transportation lines that allow easy connection with the global diamond markets, will enable the Institute to support dealers more, and most importantly enhance its ability to achieve its mission. Vital in protecting diamond consumers.

"Uptown Tower"

The design of "Uptown Tower" imitates the luster of diamonds through its front glass facade, which allows natural light to penetrate into the interior spaces, while at the same time preventing the penetration of the scorching sun.

The tower is 340 meters high, is designed to achieve LEED Gold accreditation and will be the new headquarters for DMCC.

It will feature a luxurious five-star hotel called “So/Uptown Dubai” comprising of 188 rooms, as well as exclusive restaurants, extensive conference facilities, first-class offices and 229 distinctive residences bearing the SO brand.

11

One billion dollars, the volume of rough and polished diamonds traded in the UAE during the first quarter of 2022.

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