Dubai Multi Commodities Centre (DMCC) today announced the opening of its new premises and trading floor for the Dubai Diamond Exchange (DDE) at the Almas Tower, located in Jumeirah Lakes Towers. DDE is now operational from its new facilities on the second floor of Almas Tower. This move allows DDE to expand its benefits and services for its members. DDE will house a 1,500 sq. meter trading floor, comprising public trading facilities, private viewing rooms and sophisticated technical instruments to inspect diamonds, fully automated vaulting facilities and digital market information. Members can also avail of a cluster of service providers, including shipping agents, customs inspections and facilities for diamond boiling, guaranteeing an easy flow of goods and services. “This move into our own premises at the Almas Tower represents an exciting phase in our development. We are geared to expand our services to members by providing them with a one-stop shop for diamond trading in a highly secure and discrete environment,” said Youri Steverlynck, chief executive officer of DDE. “Four years since the launch of DDE, the exchange has grown to a 350-member platform serving the Middle East markets. This will be further strengthened by the exchange's shift to Almas Tower, which represents the newest hub for commodity trading in the Middle East.” He added that as a member of the World Federation of Diamond Bourses, DDE has reaffirmed its position in the international diamond community, serving as a regional market interface and linking traders around the world. Fully leveraging its new facilities, DDE is also set to commence monthly “Polished Diamonds Sales Weeks” in January 2009, offering a wide range of goods that were previously limited to overseas diamond centers and industry exhibitions. The range of goods offered include solitaires, large and fancy colored diamonds, layouts for jewelry and consistent parcels of small goods. Diamonds will be offered on cash payment terms and will be physically available for inspection. DDE guarantees the authenticity of diamonds with respect to their origin and quality. “We are confident that DDE will prove to be a comprehensive and competitive market platform where professionals can sell and source goods in a timely and cost-effective manner,” Steverlynck added.
