Recently, four diamond companies headquartered in Israel have signed contracts to purchase office space in the under-construction International Gem Tower (IGT) in New York City, reports say. Three DTC sightholders - A. Dalumi Diamonds, Sahar Atid Diamonds, and Yerushalmi Bros. Diamonds, and the fourth company - Yondor Diamonds Ltd. have cumulatively booked 15,000 square feet of prime office space in the 34-storey tower.

The IGT is a project of Extell Development Company, and is being built as New York City's only commercial condominium for the international gem and jewellery trade. The tower will be located on 47th Street. "We know very well that Israeli entrepreneurship often spearheads new developments and trends," said Gary Barnett, President of Extell Development Company. "We welcome these prestigious firms to a growing list of companies that appreciate superior design, cutting-edge technology, modern infrastructure and efficiencies."

Meir Dalumi, managing director of the Dalumi Group, said "The International Gem Tower will bring to 47th Street the conveniences and amenities of an industry hub that we are accustomed to in Israel." The facility is set for completion in 2012.