UAE - Mubasher: Silicon Valley’s Diamond Foundry has opened its international office in Dubai Multi Commodities Centre (DMCC) to join the centre's portfolio of laboratory-grown diamond (LGD) companies.
Established by Martin Roscheisen and Jeremy Scholz in San Francisco, Diamond Foundry has selected DMCC as its international sales and distribution base for Dubai’s connectivity with the world’s diamond centres, according to a press release on Monday.
Diamond Foundry is the first zero-carbon-footprint producer of diamonds by using hydropower to sustainably create LGDs.
DMCC seeks to position Dubai as a hub for the natural and laboratory-grown diamond trade.
In 2019, the total value of rough and polished diamonds traded in the emirate reached AED 84 billion ($23 billion).
The Executive Chairman and CEO of DMCC, Ahmed bin Sulayem, said: "Attracting businesses that are revolutionising the diamond sector is proof that we have successfully built an enabling ecosystem for the entire trade – natural and laboratory-grown."
Meanwhile, the Vice President Global Sales at Diamond Foundry, Toby Cruse, commented: "Dubai is a strategically important location for us, providing us direct access to some of the world’s most important diamond markets such as India, Israel, and Europe."
It is noteworthy to mention that in November, DMCC has officially opened its representative office in Israel’s Tel Aviv.
