The Dubai Cut Diamond-faceted and cut inspired by the 99 Holy Names of Allah

On March 3, 2008 · In Dubai

Posted: 14-03-2006 , 13:42 GMT found at menareport

The announcement comes as the result of a closely competed tender process. A number of major Dubai-based jewellery companies, who are members of the DMCC, had submitted sealed bids for a three-year licence to sell the unique cut gem.

DMCC unveiled the 99 faceted DUBAI CUT late last year. The Dubai Cut is an exceptional new cut of diamond inspired by the 99 Holy names of Allah. The unique cut of diamond is produced solely by Kristall Corporation, the leading Russian polished diamond manufacturer, exclusively for DMCC under a legal patent.

A leading manufacturer and supplier of diamonds, precious stones and pearls to the jewellery industry since 1969, Dhamani Jewels DMCC is a company of local and international repute. It has a worldwide base of offices in addition to its head office in Dubai and manufactures fine jewellery in Italy, Beirut, Istanbul and Thailand. Dhamani Jewels DMCC has been awarded certification from Dubai Municipality for ‘Good Jewellery Practice’ under the certification scheme – ‘Bareeq’. All products sold by Dhamani Jewels DMCC are certified by various International laboratories.

“We are extremely pleased to award Dhamani Jewels DMCC the exclusive right to sell the Dubai Cut Diamond. Their bid met all the stringent criteria laid down by the tender,” said Mr. Ahmed Bin Sulayem, Chief Operating Officer, DMCC. “We were overwhelmed by the tremendous interest among Dubai-based diamond merchants and jewellery companies to participate in this tender. DMCC has taken all steps to ensure that the systematic process of the tender met the highest standards of transparency and corporate ethics, and that the winning bidder will be able to do justice to this wonderful opportunity,” he added.

“The 99-faceted Dubai Cut diamond is an exciting addition to the diamond world. It represents the openness of Dubai in its clarity and reflective qualities,” continued Ahmed bin Sulayem, Chief Operating Officer, DMCC. “We will be working closely with Kristall and Dhamani Jewels to ensure that the highest standards of excellence are maintained in its production and sales,” he added.

“It is a matter of great honour and pride for Dhamani jewels DMCC to be awarded the sole right to sell the Dubai Cut Diamond, which is an incomparable jewel in terms of its distinctive cut, matchless quality, and significant value,” said Amit Dhamani, Managing Director, the Dhamani Group of Companies. “Dhamani Jewels and the Dhamani Group of Companies are highly grateful to DMCC and the Government of Dubai, who have shown trust and confidence in us by giving us the privilege to market this unique diamond – ‘The Dubai Cut’. We thank them for their support,” he added.

Commenting on the marketing strategy for the ‘Dubai Cut’ he said: “This unique and exclusive Diamond, which is individually numbered and laser inscribed will be available as a loose stone so it can be used as a gift, memento, souvenir and as an investment. It will also be made into a fine jewellery line, which will comprise of rings, earrings, bracelets and necklaces. This line of jewellery will be designed and manufactured in Italy. In addition, we plan to launch a collection of jewellery and accessories for men, comprising rings, cufflinks, tiepins and other items.”

“It will be our endeavour to make the customer not only a proud owner of the Dubai Cut but also carry fond memories of Dubai for a long time,” said Dhamani.

The ‘Dubai Cut’ will be available at Dhamani Jewels Retail outlets, at Mall of the Emirates, Maktoum Street, Gold Souk, Gold & Diamond Park and future outlets at Dubai Festival City and Dubai Mall.

The bids were reviewed by a senior committee of DMCC and Kristall representatives. Terms for the price and supply of the Dubai Cut will be negotiated between Kristall and the winning applicant directly.

DUBAI DIAMONDS & COLOURED STONES

The Dubai Multi Commodities Centre, a strategic government initiative, rated ‘A’ by Standard & Poor’s, is establishing Dubai as a diamond trading and value-adding centre of global significance. Under a free zone status, DMCC will accommodate every facet of the business – manufacturing, trade, education, certification and technology. Streamlining the trade with global standards and protecting the legitimate diamond industry DMCC has been instrumental in implementing the Kimberley Process Certification Scheme (KPCS) in the United Arab Emirates. Through the creation of market-specific infrastructure, such as the Dubai Diamond Exchange, the Dubai Gem Certification, DMCC’s industry initiatives provide a major impetus to the diamond industry in the region.