The Dubai Multi-Commodities Centre (DMCC) will host six diamond tenders at the Dubai Diamond Exchange within the month, following a record-breaking auction in December last year.

Three new companies are organising tenders on DDE’s new trading floor for the first time – iHennig, KOIN International Ltd and Choron Group in collaboration with Bonas Group – in addition to regular long-term hosts, Trans Atlantic Gem Sales, Stargems and Rapaport.

Ahmed Bin Sulayem, executive chairman and CEO of DMCC, said the auction series is a boost of confidence for the industry. 

All tenders will be held under strict health and safety measures including social distancing alongside regular disinfection procedures, according to DMCC.

Easily accessible to buyers from India, Israel, Angola, South Africa, Russia and Belgium, Dubai has become a leading diamond hub, with trade soaring from US$3.6 billion in 2003 to US$23 billion in 2019. A Memorandum of Understanding between DMCC and the Israel Diamond Exchange will further bolster regional trade and growth of the global diamond industry.

In December 2020, DMCC hosted a record-breaking rough diamond tender. Organised by Stargems DMCC, the auction sold a total of 379,912 carats valued at US$87.47 million. Over 250 companies participated in the tender.