DMCC’s Ahmed Bin Sulayem to Receive JNA Award For Outstanding Contribution

Ahmed Bin Sulayem

Ahmed Bin Sulayem, executive chairman of the Dubai Multi Commodities Centre, will receive the 2014 Outstanding Contribution Award during the JNA Awards Ceremony and Gala Dinner on September 16 at the InterContinental Hong Kong. The JNA Awards event, the culmination of a year-long process, will be held during the September Hong Kong Jewellery & Gem Fair. The awards are organized by Jewellery News Asia, the leading trade magazine for the Asian jewelry industry. 

Bin Sulayem is the second individual to receive the Outstanding Contribution Award.

Bin Sulayem’s accomplishments have had a positive and enduring impact, not only on DMCC and Dubai, but on the global gemstone and jewelry industry, according to Letitia Chow, chair of the JNA Awards judging panel. 

“Under Ahmed Bin Sulayem’s leadership, DMCC has enhanced the flow of diamonds, precious metals, pearls and other commodities through Dubai—one of the world’s leading trade hubs. His vision and boldness in executing his role at DMCC has led to the expansion of the global commodities sector,” Chow said. “His leadership has not only established Dubai as a major commodities trading hub, but also promoted synergistic collaboration with trading partners in Asia.”

Under Bin Sulayem’s guidance, Dubai has become one of the leading diamond trading centers in the world.

“It is an honor to accept this prestigious award on behalf of DMCC and Dubai as testament to the strength and leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, vice president, Prime Minister of the UAE and Ruler of Dubai,” he said. “It is his vision that has enabled DMCC to establish Dubai as the global hub for commodities trade and enterprise, and in doing so making the most of the Emirate’s geographical location between the jewelry and gemstone-producing and consuming countries.”

Under Bin Sulayem’s leadership, gold trade through Dubai has grown from $6 billion in 2003 to $75 billion in 2013. The diamond industry has grown to about $39 billion, and Dubai is now ranked among the world’s top three marketplaces for rough and polished diamonds. 

Since joining DMCC in 2001, Bin Sulayem oversaw the construction of the Almas Tower, the tallest commercial tower in the Middle East built for the diamond trade; and several products and services, including the establishment of the DMCC Free Zone, the Dubai Gold and Commodities Exchange, and the Dubai Diamond Exchange. He also played a leading role in reviving Dubai’s pearl industry by launching the Dubai Pearl Exchange in 2007. In just over a decade, DMCC has enabled the flow of trade through Dubai to grow immensely while positioning its free zone as the global gateway for commodities trade and enterprise. 

Now in its third year, the JNA Awards is an industry-wide event that honors and recognizes excellence and achievement in the global jewelry trade with an Asian focus. In 2013, it conferred the Outstanding Contribution of the Year Award to celebrated jewelry master and sculptor Wallace Chan. 

For the Awards’ 2014 edition, a total of 29 companies and six individuals from 11 countries and regions have been shortlisted across 16 categories.

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Giant Natural Pearl Sells for $254,500 at Christie’s Dubai

A baroque drop-shaped natural pearl weighing 239.7 grains (59.92 carats) sold for $254,500 at Christie’s Dubai sale of Important Jewels on Wednesday. The pearl, set on a diamond foliate surmount with a spectacle-set diamond chain 42 cm. long, is the largest saltwater pearl ever recorded, according to the international auction house.

It was once part of the collection of Valda Virginia Vaughn Scott, the daughter of an English diplomat and a member of the Alessi family. Her grandfather and great-grandfather served in the Royal Malta Regiment and the Malta Crown Advocate, and they were in turn descended from the Maltese nobleman, the Marquis di Taflia.

The pearl’s provenance along with its size speaks to its value, said David Warren, International Director of Christie’s Jewellery department and Head of Jewellery Middle East.

“Natural pearls of this size are rarely seen on the jewelry market and when offered they attract international interest,” he said. “The buyer is from the region, a traditional hot spot of the finest natural pearl enthusiasts. To date this is the largest natural pearl we have offered in Dubai.”

The auction of diamonds, gemstones, natural pearls, contemporary and signed jewelry, held at the Jumeirah Emirates Towers Hotel, took in more than $3.9 million.

A diamond and colored diamond jewelry suite fetched $542,500, the highest sales of the event. In addition to the quality of the materials and design, this jewelry suite is distinguished by the way it coverts from a dual necklace to a tiara with ear clips.

The front of the necklace, designed as a detachable swag, has five graduated diamond flowerheads, three flowerheads mounted with a brilliant-cut fancy intense yellow diamond of 3.57, 3.11 and 3 cts. each, surrounded by a diamond cluster center to the similarly-set diamond petals. These are alternated by two similarly-set diamond flowerheads, each mounted with a brilliant-cut diamond weighing 2.02 and 2.01 cts. to the marquise-cut diamond petals, interspersed by connecting links of pear-shaped fancy vivid and fancy intense diamonds of yellow and orange hues and diamonds of foliate motif. The back of the necklace accented by brilliant-cut yellow diamond spacers, converts to form a tiara; with ear clips en suite composed of two brilliant-cut fancy intense yellow diamonds weighing 3.52 and 3.49 cts. each, with diamond-set leather fitted cases.

The suite is accompanied by 27 Gemological Institute of America reports stating that quality and characteristics of the various diamonds.

A ring centered by a 25.01-ct. fancy brownish greenish yellow diamond flanked by two shield-shaped diamonds weighing a total of 2.40 cts. was sold for $410,500, well-above its pre-auction high estimate of 350,000.

A diamond jewelry suite consisting of necklace, ring and earrings all with a heart-shape theme sold for $266,500—above its high estimate of $260,000. 

The suite is composed of a detachable pendant mounted with two graduated heart-shaped diamond collets weighing 5.77 and 4.01 cts. each to the similarly-set graduated heart-shaped diamond neck chain; Matching ear pendants, each suspending a heart-shaped diamond drop weighing 3.49 and 3.42 carats to the diamond surmount weighing 2.19 and 2.11 cts. each; Ring mounted with a heart-shaped diamond weighing 2 carats to the tapered baguette-cut diamond shoulders with plain hoop.

It is accompanied by seven reports from the Gemological Institute of America the Antwerp Diamond High Council.

Italian Bead Company Expands to the Middle East

Amore & Baci, the Italian do-it-yourself beaded jewelry brand, has opened 25 stores in the Middle East in 2010 and has plans to open more stores this year.

Amore & Baci creates a new trendy jewelry concept for women. It offers 925 sterling silver beads with a mix of materials, including Swarovski crystals, Murano glass, cubic zirconia, and enamel.

“The brand is very well-known internationally but the concept is very new to the Middle East,” said Giovanni Licastro, owner of the Arezzo-based company. “We see a huge potential of Amore & Baci in the Middle East that is why we are concentrating on the development of our existing points of sale; and as we expand the line to create a full brand concept, we expect more growth for the brand beginning 2011.”

In Dubai, Amore & Baci is available at Dalya kiosks in Mirdif City Center and at the Mall of the Emirates, as well as at Clarity fine jewelry shop at the Gold and Diamond Park.

Amore & Baci is available in Dubai, Kuwait, Qatar, Saudi, Lebanon and Syria. It is distributed by Christian Bernard Middle East, the regional subsidiary of the Christian Bernard Group in France.

Aaron Shum Jewelry Opens Middle East Headquarters in Dubai

Hong-Kong-based jewelry wholesaler Aaron Shum Jewelry opened an office and showroom in Dubai at Gold Land (pictured) that will feature the company’s collection of jewelry and timepieces.

The Dubai operation will serve as Aaron Shum Jewelry's hub for the Middle East region. The company has an established presence in Hong Kong, Japan, Europe, USA, Australia and China.

“Over the past decade, Aaron Shum Jewelry has forged strong relationships with gold and jewelry retailers, designing and manufacturing exclusive jewelry brands for several leading retailers in the Middle East,” said Aaron Shum, owner of his namesakes company. “With the opening of our Middle East headquarters in Dubai, we are consolidating our presence here and will embark on a focused regional expansion strategy.”

Among the products being showcased at the Dubai headquarters are the Coronet Solitaire, which amalgamates six diamonds on an elevated centerpiece to create a solitaire effect; the Gemtique collection, which features gemstones and jewels, set in variants of 18k white, rose and yellow gold; and the La Posy Collection, which blends colored gemstones and jewels.

French Luxury Festival to be Held in Dubai

The Dubai Mall will be scene of the region’s first festival hosted by Comité Colbert. The Colbert Festival will be held from October 29 till November 7 at the world’s largest mall.

Comité Colbert is an association of 75 French luxury brands and 11 associate members who collectively promote their shared values in France and internationally.

The Dubai Mall contains more than 1,000 retail stores (including 70 global haute couture brands) and 160 food and beverage outlets. More than 37 million persons visited the mall during its first year of operation.

The French luxury organization and the mall are partnering to bring this event to Dubai. The Colbert Festival consists of a special path that will run past the stores of Colbert members and through the public areas of The Dubai Mall, according to the organizers. Outstanding objects will be displayed, many of them for the first time in the Middle East. There will also be a program of special events and demonstrations including artisans showing their skills or talks by designers.

The festival will be centered in the mall’s Grand Atrium, Fashion Avenue and Catwalk, which features more than 30 French luxury brands.