Diamonds worth $100m on display

Diamond jewellery worth US$100 million (Dh367 million) was on display during the Diamond Fashion Show as part of the Dubai Shopping Festival (DSF) on Tuesday.
The show was held at the Armani pavilion at the Burj Khalifa.
Organised as part of the 20th edition of DSF in partnership with Dhamani Jewels, it was dubbed as "the most expensive fashion show in the world”.
From more than 10 pieces of diamonds weighing 50 carat or above, to four pieces of rare 100-carat diamonds, the show assembled a impressive collection of "prized jewels ever exhibited on a catwalk”, including a collection of rare natural fancy coloured.
The diamond jewellery for the exclusive, invitation-only event was provided by Dhamani, the sole distributor of the 99-faceted Dubai Cut diamond.
Dubai's annual diamond trade volume now stands at over $40 billion (around Dh514 billion), with about half of the world's production of rough diamonds passing through the Dubai Diamond Exchange.
"While Dubai has always been renowned as a gold trading centre, the story of the last decade really is the city's amazing transformation into a global diamond hub,” said Laila Suhail, CEO of Dubai Festivals and Retail Establishment, an agency of the Department of Tourism and Commerce Marketing and the organisers of DSF.
"Dubai offers a favourable environment for diamond traders, with its business-friendly policies, simplified procedures and its reputation as a tax haven combining to offer a value proportion unmatched elsewhere in the world. Most importantly, Dubai is situated at the crossroads of Europe and Asia, and connects all major global diamond centres.”
Amit Dhamani, CEO and managing director, Dhamani Jewels, said: "Dubai is fast evolving into the world's pre-eminent diamond trading centre, and this [show] is a nod to the city's astonishing recent success as a major global diamond capital. The event underscores the uniqueness and growing eclecticism of Dubai's luxury market, showcasing rare gemstones and diamonds one would typically find only in the loftiest of global museums.”
The 20th edition of DSF runs till February 1 offering citywide events, numerous shopping opportunities and winning options for residents and visitors from around the world.
Source: Gulf News