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Dubai Show Underscores Local Retail Jewelry Business

December 06, 05 by IDEX Online Staff Reporter

Watch and Jewellery Dubai 2005, organized by the Dubai World Trade Centre (DWTC), got underway yesterday and will run until December 9. The Diamond Trading Company (DTC) is holding ‘Diamond Day’ seminars.

 

“This year’s show has registered an impressive 16 percent increase in the number of international exhibitors," said DWTC Director General, Helal Saeed Khalfan Al Marri. “The show’s international focus could be gauged from the fact that 405 out of the total 460 exhibitors, i.e. 88 percent, are international exhibitors,” he remarked.

 

For the third quarter of 2005, gold jewelry demand in the UAE registered a year-on-year growth of 13 percent. Overall jewelry demand in the Middle East grew 11 percent while retail investment rose 38 percent both in tonnage terms

 

While Dubai’s retail jewelry business is valued at more than AED 5.5 billion ($1.47 billion), nearly AED 1.5 billion ($408 million) is in diamond jewelry alone.

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