The Dubai Diamond Exchange (DDE), a Dubai Multi Commodities Centre (DMCC) platform, confirmed that Peter Meeus will step down as chairman as of January 31st, 2018. Ahmed Bin Sulayem, executive chairman, DMCC, will assume the chairmanship going forward with the ambition to further elevate Dubai’s role as the global marketplace for diamond trade. Peter Meeus has been nominated honorary chairman.
The value of diamonds handled through Dubai has grown from $3.5 billion in 2003 to over $26 billion in 2016. Located in the iconic Almas Tower, DDE is the only bourse in the Middle East affiliated with the World Federation of Diamond Bourses (WFDB). The DDE brings together several large-scale initiatives, such as rough and polished diamond tenders and trade benefits for pearls and coloured stones.
Bin Sulayem said: “The opportunities and challenges for the Dubai Diamond Exchange are of a different nature going forward. In the past 12 years, we built the foundation of a solid exchange, attracting over 1,000 members operating out of the Almas Tower. Not only do we want to consolidate this position, but it is also our ambition to grow further and make Dubai a unique and interconnected hub with the rest of the world. Our proximity to Africa as well as the unique logistical infrastructure which Emirates Airlines provides to hundreds of destinations worldwide is crucial in the development of Dubai as a leading diamond centre.”
Meeus said: “I have been extremely privileged to work in such a dynamic environment as Dubai for the last 12 years. With the help of the Dubai government, we have been able to establish a unique facility which today is one of the top three trading centres of diamonds in the world. This has been an extraordinary experience with many challenges, especially when the financial crisis hit us in 2008, but Dubai has shown its resilience and flexibility to come through even from the worst possible situations. I am convinced that the Dubai Diamond Exchange has a great future ahead and I’m proud to have been able to participate in its growth since its inception in 2004.”