Diamdel Opening Dubai Office in August

(IDEX Online News) – Diamdel, De Beers' secondary market supplier, will open an office in Dubai in August after it was licensed to operate in the Dubai's Jumeirah Lakes Towers free zone.

Diamdel's Dubai office, the first in the Arab world, will provide improved access to rough diamonds. Diamdel auctions its goods online, after prospective bidders had a chance to examine them.

The JLT free zone is operated by the Dubai Multi Commodities Centre Authority (DMCC). Rough diamonds worth $7.1 billion were traded via DMCC's subsidiary, the Dubai Diamond Exchange (DDE).

“The opening of Diamdel Dubai will mark an important milestone in the ongoing transformation of the business," said Diamdel CEO Neil Ventura. "We anticipate that this expansion to our global network will offer improved access to the buying opportunities that Diamdel provides, especially to businesses based in India, Dubai and the surrounding markets.”