His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, recently visited the Dubai Multi-Commodities Centre (DMCC), to mark a major milestone: over 1 billion carats of diamonds traded in five years.
Touring the Dubai Diamond Exchange (DDE), the world’s largest diamond tender facility, he was briefed on DMCC’s expanding diamond ecosystem, including GIA’s new presence in Uptown Dubai. The visit coincided with the launch of DMCC’s Strategy 2033, a plan to grow its specialised ecosystems in diamonds, gold, AI, Web3, and more. DMCC expects to surpass 26,000 member companies this year, contributing 15% to Dubai’s FDI and 7% to its GDP.
DMCC’s diamond sector has seen rapid growth, with polished and lab-grown diamonds gaining ground. In 2024 alone, DDE hosted 85 tenders, supported by robust infrastructure and regulatory frameworks, including the Kimberley Process Office and the DMCC Vault.
His Highness Sheikh Hamdan said: “The visit provided the opportunity to see first-hand how DMCC continues to play a central role in driving global trade and investment flows to Dubai, positioning the emirate as a world-class business hub. As we advance our economic diversification journey under the Dubai Economic Agenda D33, DMCC is leading the way in building high-performance, globally connected ecosystems that attract innovation, talent and capital across priority sectors.”