Diamond trade is considered one of the most sectors experiencing a boom in Dubai
The head of the company “Dubai World Real Estate” and Chairman of the Group, “Khalil Al Sayegh Jewelry” Khalil Al Sayegh, the diamond trade a more sectors experiencing a boom in Dubai, as the emirate turned into a global destination for those wishing to buy Iman.ooodh Sayegh stone, in a press statement, that diamonds of more goods, after the real estate, which benefited from the flow of capital to Dubai during the recent period in the wake of the unrest that hit some countries in the region, so as a safe haven instead of storing the money abroad, as well as mobile money easily move them from one country to another .
He said that the coming stage will witness further recovery of the tourism sector in light of the major actors of this organization, as well as a huge entertainment projects offered by the government and then the retail sector, specifically jewelry will see a very active during the next phase.
He said that national investments in the jewelry and diamond industry can compete globally pointing out that he inherited the profession from his family, which bears the name of “Al-Sayegh” any jewelry maker, has been chosen at the time was called on the family name in accordance with the professions practiced by pointing out that since more than 50-year-old at the founding of the first jewelry store carries the family name in the Deira district of the city of Dubai in 1952 has this name form a prominent brand in the world of jewelry, pointing out that it continued to march his father in the development of their investment in that industry, as he set up a factory for jewelry Sayegh in Dubai, He then took him to Malaysia and eastern Asia to take advantage of trained manpower and low cost.
He pointed out that it is just a profession, to carry her parents, she turned to brand UAE tops the list of international names in the world of jewelry from all over the world, are marketed in the Middle East and East Asia, India and Europe.
Khalil Al Sayegh added that the investment in the diamond became a diversity of investors governor tool, and that for 4 the first of the “Privacy” main reasons, because the permit is not required for ownership of the diamond in the majority of countries, and secondly «easy transport» Due to the possibility of storing and transporting large quantities of diamonds easily and in envelopes a small, Third «stability» Due to the high diamond prices steadily since 1970 and therefore is less volatile than the real estate market and the stock market and gold, as well as, the diamond prices maintained their value in periods of economic recession unlike any category of other traditional asset classes.
Fourth and finally «tax» because selling your diamond is not subject to tax in most states and regulations, pointing out that most investors have the obsession to maintain their wealth and keep up with inflation, the investment is in long-term diamond the ideal way to achieve this goal and maintain wealth Etwartha generations due to their rarity and value and quality of what makes it difficult to lose its position.
He pointed out that the biggest proof of this is to bring the industry to higher sales in 2011, despite its vulnerability to economic recession and slower, which sell diamond jewelery operations, but they continued to maintain demand surpassing the fears and barriers imposed by the global economic situation which growth. This fact has laid the efficiency and capacity of the gems to withstand the market due to the full value which is not affected by fluctuations in the economy or changes.
He explained that the gems that carry these important characteristics are those that represent an investment useful and valuable and include two main categories: diamonds colored luxurious white diamond DIF (white diamond summit), which is the real investment, especially since carats and one out of 100,000 carats mined ranks of luxury class, and thus constitutes a disparity between demand and supply in economic terms.
He pointed out that in the seventies were buying a diamond stone blue weight of 10 carats worth million dollars has been sold for $ 15 million, an increase of 1,400% from its price at auction was in 2010, as was the sale of diamonds stone and pink rare type of weight of 24 carats compared to 45 million in 2010 after buying in 1960 compared to only $ 60,000. These examples confirm that investment in the diamond today will provide ongoing wealth for many generations in the future.
It was reported by the agency “Bloomberg” at the beginning of this year that Dubai ranked second in the world diamond
trade after the Belgian city Ontroyb, noting that about half of the global diamond trade passes through the UAE and Dubai in particular.
The report continued that the diamond trade in the emirate reached $ 40 billion (AED 147 billion) last year, is superior to the world and a growth for many many times of its value in 2002.
He attributed the successive jumps made by the trade to ease the business climate and the presence of a global infrastructure and legislative stimulate sustainable growth, as well as geographic location.