DUBAI — Crown Prince of Dubai and Chairman of The Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, visited the Dubai Multi-Commodities Centre (DMCC) this week, marking a pivotal moment for the UAE’s global leadership in the diamond trade.
The visit comes as DMCC celebrates surpassing 1 billion carats of rough and polished diamonds traded over the past five years, reinforcing its status as the world’s largest diamond hub. Sheikh Hamdan toured the Dubai Diamond Exchange (DDE), the largest diamond tender facility globally, and was briefed on DMCC’s operations, regulatory frameworks, and growth strategies across traditional and emerging sectors.
Sheikh Hamdan was accompanied by Omar Bin Sultan Al Olama, Minister of State for Artificial Intelligence, and received by top DMCC officials including Dr. Hamad Buamim, Chairman of the Board; Ahmed Bin Sulayem, Executive Chairman and CEO; and Feryal Ahmadi, Deputy CEO and COO.
“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,” Sheikh Hamdan said. “As we advance our economic diversification journey under the Dubai Economic Agenda D33, DMCC is building globally connected ecosystems that attract innovation, talent, and capital.”
During his tour, Sheikh Hamdan visited the DDE tender floors and was updated on trade practices for rough and polished diamonds, coloured gemstones, and lab-grown stones. He was also briefed on the Gemological Institute of America’s expansion into DMCC’s Uptown Dubai district.
The UAE’s emergence as the world’s leading hub for rough diamond trade, as well as its growing influence in the polished and lab-grown segments, reflects a deliberate strategy supported by infrastructure development, international partnerships, and regulatory leadership. Dubai also serves as Chair and Custodian Chair of the Kimberley Process, further cementing its reputation for transparency and ethical trade in the precious stones industry.
In tandem with Sheikh Hamdan’s visit, DMCC unveiled Strategy 2033—a long-term vision that places industry-specific ecosystems at the centre of its growth plans. From diamonds, gold, and energy to emerging sectors such as AI, Web3, and blockchain, the strategy is designed to accelerate innovation and attract investment by offering value-added services and world-class infrastructure.
With over 25,000 member companies from 180 countries, DMCC now contributes 15% of Dubai’s FDI and 7% of its GDP. It aims to surpass 26,000 members by the end of the year, driven by rapid expansion in technology, gaming, and digital assets.
“DMCC’s success lies in the consistent expansion of both legacy and frontier sectors,” said Dr. Hamad Buamim. “Our integrated ecosystem is enabling growth across commodities, technology, and services—supporting Dubai’s ambitions under D33.”
Ahmed Bin Sulayem added, “This is a historic moment for our diamond industry and a strong validation of DMCC’s global impact. From traditional commodities to future-focused platforms, we are shaping the next generation of international trade.”
In 2024 alone, the Dubai Diamond Exchange hosted 85 tenders and has become a benchmark for transparency, efficiency, and security in the global diamond sector. It is supported by the Kimberley Process Office, the DMCC Vault, and initiatives such as the Tender Best Practice Forum.
Feryal Ahmadi noted that DMCC is not only transforming the diamond landscape but is also actively driving growth in new sectors like AI and sustainable trade. “His Highness’ visit is a strong endorsement of our future-ready strategy,” she said. “Dubai is well-positioned to meet the evolving needs of global businesses.”
The visit concluded with Sheikh Hamdan receiving a deluxe edition of DMCC’s 2024 Future of Trade report, which outlines major shifts in global commerce and forecasts emerging trends.
As Dubai positions itself as a forward-looking global hub, DMCC remains a cornerstone of its vision—blending tradition, innovation, and international reach to shape the future of trade.
