The Diamond Dealers Club (DDC) of New York will be moving to new headquarters in the city. The DDC will move to the International Gem Tower at 50 W 47th Street, the organisation announced yesterday.

"The International Gem Tower (IGT) is critical to the future success and stability of the diamond industry on 47th Street in New York.” said DDC President, Reuven Kaufman. “I believe that this new facility and trading floor will be an incredible benefit to our members.”

Kaufman opined that members will enjoy the “modernity, prestige and value that IGT has to offer”.

“We are confident that the Club's presence will enhance the experience for IGT owners, visitors and tradesmen,” he said. “Now is an excellent opportunity for DDC members to secure office space still available from Extell Development, the developers of IGT, and be in the same location as the DDC and other major companies in the industry."

"We are excited to welcome the Diamond Dealers Club to the building," said Gary Barnett, the founder of Extell. "Having the DDC at the International Gem Tower completes our vision for a modern industry centre in New York."

The DDC will be located on the 11th floor, where DDC is in the process of building its new trading floor. The DDC says that the new facilities have been “beautifully designed”, with an open trading floor and state-of-the-art technical facilities, a relaxing cafeteria and break area, and views out of the gorgeous floor to ceiling windows.