This article first appeared in the JNA November/December 2025 issue.

The Middle East is rapidly establishing itself as a world-class trading hub for diamonds and coloured gemstones. Gem dealers based in Dubai said they recorded steady business this year by capitalising on their strategic location and growing demand for high-end coloured gemstones and bespoke diamond cuts.

Working in their favour is the ideal trading environment within the Dubai Multi Commodities Centre (DMCC) free zone, where they enjoy low-tax import and export policies that are vital for high-ticket stones whose margins hinge on logistics.

In addition, Dubai’s proximity to Asia, Europe and Africa and its extensive flight network shorten sourcing and sales cycles for dealers serving international clients.

The region’s gemstone trade focuses primarily on distinctive offerings, from Panjshir emeralds and cobalt-blue spinels to antique-cut diamonds that cater to buyers’ growing appetite for rarity and individuality. Dealers in Dubai are optimistic that this demand for rare stones will sustain its upward trajectory.

Further strengthening prospects is Jewellery, Gem & Technology in Dubai (JGTD) scheduled for November 11 to 13, 2025 at Halls 1 and 2 South of the Dubai Exhibition Centre.

Jointly organised by Informa Markets Jewellery and the Italian Exhibition Group, this year’s JGTD features over 350 exhibitors from more than 30 countries and regions, highlighting the extensive business opportunities in the Middle East.

Gemeasy DMCC: Rare colours

Founded in Italy and based in Dubai, Gemeasy DMCC positions itself less as a trader and more as a long-term curator of rare stones, with a passion for acquiring gemstones of incredible colour and unique character, according to company owner Walter Veneruz.

Gemeasy’s curated collection features some of the most sought-after natural treasures, including no-oil Colombian emeralds, Burmese rubies, neon Paraiba tourmalines and multicolour spinel layouts. Each gemstone is meticulously handpicked at the source through responsible sourcing practices across countries such as Namibia, Sri Lanka, Vietnam, Brazil and various African nations.

“Our passion drives us to collect special stones,” remarked Veneruz. “We work closely with local miners and suppliers to ensure that we are getting the highest-quality stones at fair prices.”

Gemeasy serves an international clientele spanning China, Europe, the US and the United Arab Emirates.

Veneruz said he chose to establish his business in Dubai due to its social stability and efficient shipping. Moreover, the city is just a six-hour flight from both Hong Kong and Italy, putting Asia and Europe within easy reach.

Business was steady for Gemeasy in 2025, with buyer preferences varying among countries and regions.

“Chinese clients loved the pink and red spinels. US buyers were more open-minded and embraced diverse varieties of gemstones such as mandarin garnet and Fanta-colour stones,” said Veneruz. “Parts of Europe still gravitated towards traditional gems for their perceived investment value, but aquamarine is gaining steam there.”

He expected brighter prospects in 2026, driven by heightened demand for distinctive gemstones with exceptional and rare colours.

“Clients today are willing to pay a premium for one-of-a-kind stones. Beautiful stones allow them to create jewellery art pieces,” he added.

Veneruz noted that rubellites and lagoon tourmalines are currently moving well and cobalt-blue spinels are the emerging star.

“These spinels possess a significant amount of cobalt, which is responsible for their intense blue hue that is extremely different from sapphires. It almost seems like there is a lamp inside the stones, making them shine incredibly,” he explained.

Glittering Gems DMCC: Unconventional selection

Specialising in high-end coloured gemstones, diamonds and pearls, Glittering Gems DMCC distinguishes itself through its focus on craftsmanship and unusual cuts.

The four-generation family business started with coloured gemstones. Over the years, it expanded its product offerings and created a niche for itself by developing expertise in antique, fancy and bespoke cuts of diamonds.

“We cut our diamonds in our Mumbai factory and try to be as unique as possible. Our goal is to introduce unconventional shapes and cuts that keep our inventory fresh and engaging. From rose cuts and old European cuts to our latest dome-shaped diamonds, we continually experiment with innovative shapes,” said Anushi Mehta, partner at Glittering Gems DMCC.

Today, the company supplies designers and jewellers across international markets including the US, Europe, China and India with an array of exceptional diamonds and a vast collection of top-quality coloured gemstones such as Colombian emeralds, Burmese rubies and Kashmir sapphires.

“Our clients, designers especially, always want to do something innovative. They get to create something totally unusual with our special coloured gemstones and diamonds,” said Mehta. “Consumers are also looking for something fun and different. They already have emeralds, rubies and sapphires – it is now about making a personal statement with jewellery.”

Despite challenging macroeconomic conditions, Glittering Gems did remarkably well this year. “While some clients were hesitant when it came to certain price points, there were still those who were eager to purchase special stones,” she noted.

One particular style is gaining traction with today’s consumers. “The old mine cut is making a comeback, especially after Taylor Swift’s engagement ring put it in the spotlight,” Mehta remarked.

Glittering Gems conducts most of its sales and marketing efforts from Dubai, leveraging the city’s accessibility, efficient logistics and stable political environment. It also raises its profile through social media and international jewellery trade shows, which help the company “keep up with the trends and remain relevant”, according to Mehta.

Panjshir Gems: Verdant business

Based in Dubai, Panjshir Gems specialises in both rough and polished emeralds sourced from the Panjshir Valley and other mines in Afghanistan. Its inventory likewise includes gemstones such as rubies, sapphires and tourmalines. The company runs mining, cutting and polishing operations and exports its gemstones worldwide.

“Panjshir emeralds are known for their deep, rich green colour and exceptional clarity, reflecting the natural beauty of the Panjshir Valley. Demand has been on the rise in recent years,” said Managing Director Zahed Faheem.

The company offers a wide variety of gems, priced from US$1,000 per carat up to US$60,000 per carat.

“Emerald layouts are our bestsellers this year. Many of our Indian clients are jewellers; they prefer layouts as these make their job easier,” remarked Faheem. “Collectors, meanwhile, favour high-quality solitaire emeralds of 5- to 10-carats and up. They are willing to spend as long as the stones are of exceptional quality.”

Panjshir Gems has had a solid 2025, fuelled by gains in the gemstone trade from the slowdown in the diamond sector, according to Faheem. He is confident that this momentum would continue into 2026.

“Dubai has become one of the world’s leading gem trading centres. Our clients come from Dubai, India, Russia and the US, but we all meet in Dubai,” he added.