Damas to open jewellery factory in Dubai

Emaar Industries and Investments, a real estate major, and Damas, the Middle Eastern jewellery chain, plan to establish a jewellery manufacturing centre in Dubai, United Arab Emirates (UAE), called the Emirates Jewellery Manufacturing Company, according to reports.

The joint venture, which will begin production at the Dubai Multi Commodities Centre (DMCC) starting July this year, expects a turnover of $272 million (Dh 1 billion) within the first five to six years of being operational.