DMCC – the world’s flagship Free Zone and Authorities of Dubai Authority on commodities commerce and enterprise – has introduced that the world’s foremost authority on diamonds, colored stones, and pearls, the Gemological Institute of America (GIA), via its subsidiary GIA Laboratory DMCC, will lease area for a brand new gemmological laboratory in Dubai’s newest landmark – DMCC’s Uptown Tower. A public profit, non-profit institute, GIA is the main supply of data, requirements, and training in gems and jewelry.

The brand new GIA laboratory, set to open in mid-2023, will occupy over 41,000 sq. toes throughout two flooring of the 340m tall Uptown Tower as a part of a 9 12 months deal. Over time this might see as much as 500 expert new jobs created in DMCC’s enterprise district.

The tower’s 22 flooring of grade-A premium workplace area are actually considerably pre-leased forward of the Tower’s completion in This autumn 2022. Uptown Tower topped-out in January this 12 months, with development presently accomplished and the tower in its testing and commissioning section.

By utilizing the most recent expertise, together with superior GIA instrumentation, and punctiliously planning the area and processes, the customized design of the brand new laboratory area will create new efficiencies in GIA laboratory processes and companies.

The announcement reaffirms Dubai’s standing as a number one hub for the worldwide diamond trade, with the emirate considerably accelerating its diamond commerce development over latest years. The UAE recorded USD 11 billion price of tough and polished diamond commerce in Q1 this 12 months, a 36% year-on-year enhance. The UAE is presently the world’s largest tough diamond buying and selling hub and is rapidly closing in in the marketplace chief for polished stones as properly. GIA’s new laboratory is anticipated to help development on this vital polished diamond section.

Ahmed Bin Sulayem, Government Chairman and Chief Government Officer, DMCC, stated: “We’re immensely proud to be internet hosting GIA in DMCC’s Uptown Tower, Dubai. Representing a really world-leading business, residential and retail providing, Uptown Tower has commanded vital curiosity from worldwide and native companies, as proven by the substantial workplace area pre-leased to this point. The addition of the GIA to our enterprise district additional solidifies and forges our technique of constructing an interconnected enterprise neighborhood that helps and encourages international commerce.”

He added: “With out query, Dubai is spearheading the event of the worldwide diamond trade by supporting and including worth at each stage of the diamond provide chain. In addition to connecting producers, producers and customers the world over via our Dubai Diamond Change, we are actually in a position so as to add much more help to the polished diamond trade by internet hosting the world’s main diamond grader in DMCC.”

“The rising significance of Dubai as a diamond centre and its excellent infrastructure make the DMCC a wonderful alternative for a big growth of GIA’s capability,” stated Tom Moses, GIA government vice chairman and chief laboratory and analysis officer. “Dubai’s shut proximity to the vital diamond manufacturing and producing facilities, along with environment friendly transportation hyperlinks to international diamond markets, will assist help our purchasers and, very importantly, lengthen our vital client safety mission.”

Designed by Adrian Smith + Gordon Gill Structure, Uptown Tower’s design replicates the brilliance of diamonds via its faceted glass façade that illuminates the inside areas with pure gentle whereas filtering out harsh glare.

The 340-metre-tall tower is constructed to LEED Gold licensed constructing and can be residence to a state-of-the-art DMCC headquarters. It is going to additionally characteristic a 188-key 5-star luxurious lodge – ‘SO/ Uptown Dubai’ – unique eating places, in depth convention amenities, Grade A places of work and 229 signature SO/ branded residences.

According to its mandate to draw, facilitate and drive new commerce flows via Dubai, DMCC has performed a significant position in establishing the emirate as a number one international hub for the diamond commerce. DMCC’s Dubai Diamond Change is the most important diamond tender facility on the planet and residential to over 1,150 diamond firms, offering members and trade professionals with state-of-the-art infrastructure, amenities and companies to commerce with confidence.