Diamond Dealers Club (DDC) New York, which had  announced, in February this year,  its intention of relocating to the International Gem Tower (IGT) at 50 W. 47th Street, in Mahattan’s Diamond District, has said that the process of  acquiring  the new premises in now complete.

The DDC intends to move from its present location at 580 5th Avenue to its new office on the 11th floor of the International Gem Tower sometime in June. 

“The International Gem Tower was conceived and designed specifically to meet the needs of the world’s evolving diamond, gems and jewellery trade,” says the IGT’s website. “From its location in NY’s historic Diamond District to its Foreign Trade Zone designation, every facet of this state-of-the-art industry centre enhances face-to-face communication and transactions in a robust security environment.”

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

 Gary Barnett, the founder of Extell, was quoted as saying: “Having the DDC at the International Gem Tower completes our vision for a modern industry centre in New York.” 

The IGT already has a long list of prestigious clients with offices in its tower.