Antwerp Diamond Bank to become first international diamond banker in Almas Tower
The Dubai Multi Commodities Centre (DMCC) and Antwerp Diamond Bank (ADB), Belgium’s largest diamond bank and the second largest financial institution in the global diamond business, announced today the signing of an agreement enabling ADB to serve the Dubai diamond trade. ADB will help meet the financial requirements of Dubai’s thriving diamond community through its new regional office in Dubai at Almas Tower, a DMCC development purpose built for the diamond trade.
Almas Tower, which is slated to open at the end of this year in the Jumeirah Lakes Towers (JLT) development, will host the Dubai Diamond Exchange along with hundreds of local and international diamond companies and a wide variety of service providers to the diamond sector. ADB’s office will be located in the Skylobby on the 48th floor of Almas Tower, whose name is Arabic for “diamond.” DMCC Authority is the Master Developer for JLT, a major mixed-use development that will include a wide range of residential and office towers alongside hotels, leisure and retail outlets.
Ahmed bin Sulayem, Executive Chairman, DMCC, said: “Almas Tower will soon stand as one of the world’s greatest integrated addresses for the diamond trade – and as another signal achievement by DMCC and the emirate of Dubai. The greatness of this tower, however, will not be judged by its external appearance but by the activities that take place within it. That is why we are so excited to welcome a leading international diamond bank like ADB. We are convinced that their expertise, comprehensive services and understanding of the market will be of great value to the growing diamond community here in Dubai.”
“This agreement between Antwerp Diamond Bank and DMCC is a significant step in the ongoing development of Dubai as a global diamond hub,” said Peter Meeus, Executive Director – Diamonds, DMCC. “The ability to secure financing is vital to the growth of the industry, which is why we are so pleased to welcome ADB to Dubai. Together with partners like ADB, we are focused on growing the diamond business in Dubai and, by extension, across the region.”
“Over the past few years, we have seen Dubai evolve from the City of Gold into a full-fledged hub for the global diamond and jewelry trade,” said Paul C. Goris, Chairman of ADB. “As one of the world’s leading diamond bankers, Antwerp Diamond Bank saw that the time had come to support this growing market by expanding our presence and range of services in the region. Clearly, there will be no better place to do that than at Almas Tower.”
ADB, founded in 1934, is a specialised bank focusing exclusively on the diamond and diamond jewellery sector. It is the second largest diamond bank in the world with a network of offices covering all the major traditional and emerging diamond centres, including Antwerp, Dubai, Geneva, Hong Kong, Mumbai and New York. ADB also closely monitors developments in the southern African region, the Peoples Republic of China and Russia. The bank is considered a professional and innovative “banker of choice” for transparent diamond companies to whom it offers financial services and solutions that create mutually beneficial and sustainable stakeholder value.
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