Hamdan Visits DMCC’s World’s Largest Diamond Tender Facility

Photo : Dubai Government Media Office

Dubai’s Crown Prince, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, recently visited the Dubai Multi Commodities Centre (DMCC) to tour the Dubai Diamond Exchange – the world’s largest facility for diamond tenders. This visit marked a special moment for Dubai’s diamond trade industry, as DMCC celebrated a major achievement: over 1 billion carats of rough and polished diamonds traded in just five years.

During the visit, Sheikh Hamdan was joined by key government figures, including His Excellency Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work. They were warmly welcomed by DMCC’s top leadership, including Chairman Dr. Hamad Buamim, CEO Ahmed Bin Sulayem, and Deputy CEO Feryal Ahmadi.

Sheikh Hamdan toured the Dubai Diamond Exchange tender floors and learned about the procedures followed for trading various kinds of diamonds – including rough, polished, lab-grown stones, and coloured gems. He was also briefed on the full diamond ecosystem that DMCC has created, which includes the recent expansion of the famous Gemological Institute of America (GIA) into Uptown Dubai, a growing new business district.

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Speaking about his visit, Sheikh Hamdan praised DMCC’s efforts in supporting Dubai’s broader economic goals under the Dubai Economic Agenda D33. He said DMCC is doing a great job in building a strong business environment that brings in global investment, talent, and innovation. Dubai’s journey of economic diversification, he added, is being driven forward by places like DMCC that are creating real impact.

Sheikh Hamdan was also informed about how Dubai has quickly become a major global centre for diamond trade. The UAE now leads the world in rough diamond trading and is growing fast in polished and lab-grown diamond segments as well. The country’s strong regulatory systems, policies, and infrastructure have played a big role in this success. Dubai is also a trusted leader in the global diamond industry as it holds important positions within the Kimberley Process – an international system that aims to stop the trade of conflict diamonds.

DMCC used the occasion of Sheikh Hamdan’s visit to share its new growth plan called “Strategy 2033.” This plan focuses on developing strong industry hubs – not just for diamonds and gold – but also for energy, AI, blockchain, Web3, and gaming. The idea is to provide businesses with everything they need, like licensing, infrastructure, and easy access to capital, all within one connected ecosystem.

Over the past five years, DMCC has seen impressive growth in several sectors. The trade of precious stones went up by 177%, precious metals by 74%, and the energy sector by 72%. Meanwhile, coffee and tea trading continues to rise steadily. At the same time, DMCC’s newer tech-related industries, such as Web3 and AI, are expanding fast – matching Dubai’s vision of becoming a leading city for innovation and future-ready business.

Today, DMCC has over 25,000 companies from 180 countries operating within its zones. These companies contribute around 15% of Dubai’s total foreign direct investment and 7% of its GDP. DMCC expects to cross 26,000 companies by the end of this year.

Sheikh Hamdan’s visit also highlighted how the areas of Jumeirah Lakes Towers (JLT) and Uptown Dubai are growing into vibrant business and lifestyle destinations. These areas are not only boosting Dubai’s economy but are also changing the city’s urban landscape.

To mark the visit, DMCC presented Sheikh Hamdan with a special copy of their 2024 “Future of Trade” report, which looks at how global trade is changing and what to expect in the coming years.

Dr. Hamad Buamim, Chairman of DMCC, said it was a great honour to welcome Sheikh Hamdan. He explained that DMCC is playing a key role not just in diamond trade, but in helping Dubai grow into a global leader in many industries. By focusing on long-term investments, smart policies, and international partnerships, DMCC is helping businesses grow in many areas including technology and commodities.

Ahmed Bin Sulayem, CEO of DMCC, added that the Crown Prince’s visit came at a proud time for Dubai’s diamond industry. He said DMCC is creating a space where businesses from all sectors can connect and grow – from energy and precious stones to AI, gaming, and blockchain.

Feryal Ahmadi, Deputy CEO, noted that DMCC is helping shape the future of global trade. With its Strategy 2033, the centre is focused on supporting innovation and sustainable growth while building strong, connected business communities. She said Dubai is now perfectly positioned to meet the needs of businesses, investors, and entrepreneurs from around the world.

Since 2021, the UAE has led the world in rough diamond trade and continues to grow fast in polished and lab-grown segments. Last year alone, trade in lab-grown diamonds crossed AED 3.7 billion. DMCC has been a key force behind this growth, offering solid infrastructure, clear rules, and a network of over 1,350 companies working in the diamond and precious stones business.

In 2024, the Dubai Diamond Exchange hosted 85 tenders – showing just how important it has become for the global diamond community. With institutions like the Kimberley Process Office, the secure DMCC Vault, and events like the Tender Best Practice Forum, DMCC ensures the highest standards for safety and market transparency.

The arrival of the Gemological Institute of America (GIA) in Uptown Dubai further boosts Dubai’s status as a complete and trusted hub for the diamond trade – covering every stage of the value chain.

Beyond diamonds, DMCC is helping shape the future of trade in many sectors. With centres dedicated to crypto, gaming, AI, tea, and coffee, DMCC is reinforcing Dubai’s role as a global leader in both traditional and digital commerce. It continues to provide the tools, support, and opportunities that companies need to grow in today’s fast-changing world.