30 Mar 2023
DiamondWorld Directory
Home |
DMCC’s Dubai Diamond Exchange Hosts the Largest Rough Diamond Tender Ever to Take Place in the UAE
379,912 carats of rough diamonds sold valued at USD 87.47 million by Stargems DMCC
By: Diamond World News Service
Dec 18 2020 12:50PM
Reference: 25322  


DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – announced that it has successfully hosted the largest rough diamond tender ever to take place in the United Arab Emirates (UAE).

A total of 379,912 carats of rough diamonds were sold, valued at USD 87.47 million (AED 321.29 million) with 115 winning customers. Over 250 companies participated in the tender and 500 individuals flew into Dubai to take part in the event with delegates from India, Hong Kong, Russia, Israel, Belgium and Lebanon. The record-breaking tender, organised by Stargems DMCC in Almas Tower, offered clients the opportunity to bid for rough diamonds from South Africa and Angola over an eight-day period.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: We would like to extend our heartfelt congratulations to Stargems on this extraordinary achievement. Despite the obstacles posed by the pandemic, this record-breaking tender is a tremendous boost of confidence for the entire industry and testament to the strength and resilience of Dubai’s diamond ecosystem. DMCC’s strategic location, unmatched global connectivity and state-of-the-art infrastructure mean that we remain the destination of choice for the international trade. In light of this, we are optimistic about the future of the industry and are confident that Dubai is well on its way to becoming the world’s leading diamond trading hub.”

The tender was held under strict health and safety measures implemented by DMCC, including social distancing measures alongside regular disinfection procedures to ensure a safe experience for everyone.

Shailesh Javeri, Chairman, Stargems Group said: “We are delighted to have run the largest rough diamond auction to be held in the UAE.  We would like to thank the DMCC and the DDE for all their support. Stargems is looking forward to running more auctions in Dubai in 2021.”

In line with its mandate to attract, facilitate and drive new trade flows through Dubai, DMCC has been a driving force in establishing the Emirate as a hub for diamond trade. The Dubai Diamond Exchange is the largest diamond tender facility in the world, providing members and industry professionals with state-of-the-art infrastructure, products and services to grow and trade with confidence.


Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 33164
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 10781
GJEPC Chairman Interview
Views: 29218
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 40601
Promo for IJ Awards 2012 at NDTV Profit
Views: 58183
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 69867
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 22499
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 51761
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 54351
Member of:
Supporter of: