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), by means of 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 information, 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 at the moment are considerably pre-leased forward of the Tower’s completion in This autumn 2022. Uptown Tower topped-out in January this 12 months, with building presently accomplished and the tower in its testing and commissioning part.

By utilizing the newest 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 business, 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 shortly closing in in the marketplace chief for polished stones as properly. GIA’s new laboratory is anticipated to help development on this necessary polished diamond phase.

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 very world-leading business, residential and retail providing, Uptown Tower has commanded important curiosity from worldwide and native companies, as proven by the substantial workplace area pre-leased to date. The addition of the GIA to our enterprise district additional solidifies and forges our technique of constructing an interconnected enterprise group that helps and encourages international commerce.”

He added: “With out query, Dubai is spearheading the event of the worldwide diamond business by supporting and including worth at each stage of the diamond provide chain. In addition to connecting producers, producers and shoppers internationally by means of our Dubai Diamond Trade, we at the moment are in a position so as to add much more help to the polished diamond business 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 govt vp and chief laboratory and analysis officer. “Dubai’s shut proximity to the necessary diamond manufacturing and producing facilities, along with environment friendly transportation hyperlinks to international diamond markets, will assist help our purchasers and, very importantly, prolong our necessary client safety mission.”

Designed by Adrian Smith + Gordon Gill Structure, Uptown Tower’s design replicates the brilliance of diamonds by means of 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 shall be residence to a state-of-the-art DMCC headquarters. It would additionally function a 188-key 5-star luxurious lodge – ‘SO/ Uptown Dubai’ – unique eating places, intensive convention amenities, Grade A workplaces and 229 signature SO/ branded residences.

In step with its mandate to draw, facilitate and drive new commerce flows by means of Dubai, DMCC has performed an important position in establishing the emirate as a number one international hub for the diamond commerce. DMCC’s Dubai Diamond Trade is the most important diamond tender facility on the earth and residential to over 1,150 diamond corporations, offering members and business professionals with state-of-the-art infrastructure, amenities and companies to commerce with confidence.