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Press Release: As construction of the phase 1 building for the Panama Gem & Jewelry Center nears completion, the Panama Diamond Exchange (PDE) reports that about than 80 percent of the offices available in the facility are already leased. The phase I building will serve as the headquarters of PDE, including its administrative offices and 300 square-meter trading floor. The building provides office space for leasing for up to 59 local, regional and international companies and organizations and is scheduled for occupation during the fourth quarter of this year.  "The construction project is right on target and we expect to be at full occupancy when the new facility opens for business," said Erez Akerman, PDE's president. "Demand for the still available office space remains high, although what remains is being quire rapidly depleted. We are urging all those who are interested in gaining a foothold in the complex, which will change the face of the Latin American diamond and jewelry business, to move forward with their plans as quickly as possible." Among those companies and organization that have already leased space in the phase 1 building of the Panama Gem & Jewelry Center are the following: A. Rachminov, Israel
Atit Diamonds/Shairu Gems,USA/India
Barbi Diamonds, Israel
Brinks, Panama
Daniella Design, USA
DG Joyeros, Panama
DHV, Belgium
Diamwill, Belgium
Dianco, Belgium
Diarough/Mahendra Bros., Belgium/India
DBO Ltd., Israel
Gemerald, Israel
Hall of Diamonds, South Africa
Harmony Gems, Belgium
IBGM, Brazil
Imperiale Joyeros, Panama
Infinity Diamonds, Panama
Jewelex (DTC), USA/India
Kanner Diamonds, Israel
La Forgia & Co. Group, Italy
Twinklediam/M. Suresh, USA
Malca-Amit, USA
MP Diamonds & Jewelry, Panama
Nadel Diamonds, Israel
Niranjan Motwani, St. Marteen
Noadiam, USA
Novel Collection, USA/Israel
Panama Diamond & Jewelry Traders, Panama
ProGems, USA
Reims International, Venezuela
Rosy Blue, Belgium
S. Schnitzer Diamonds, Israel
Bichachi Diamonds Group, Israel
Shlophili, Panama
Tuvachi Diamonds International, Panama
Yakubov Group, Israel
The $200 million Panama Gem & Jewelry Center is the largest and most ambitious development project ever undertaken on behalf of the jewelry and gemstone trades in Latin America. Serving as a trading hub for both regional and international companies, the center will serve a market that today is worth $8 billion and comprised of 11,500 retail jewelry outlets located in 20 countries and 23 islands.
The entire complex will be located in the Vaguil Free Zone, which was established by an act of Panama's Parliament for the benefit of the international gem and jewelry trade, and exempts transactions conducted within its area from payments of customs duties and taxes, and corporations registered in the Free Zone from paying company tax. The second phase of the project will feature a multi-story tower, in which offices can be purchased. Construction will begin in 2015, with a finish date scheduled for 2017. Tenants in the phase I building will get the first pick of offices in the phase II tower. For more information, visit the Panama Diamond Exchange website at www.pde.com.pa.
The Panama Diamond Exchange (PDE) is the first and only diamond bourse in the entire region of Latin America, including South America, Central America, Mexico and the Caribbean. It will anchor the Panama Gem & Jewelry Center, which is now under construction and is designed to serve as the primary Latin American trading center and international gateway to and from one of the world jewelry industry's most exciting growth markets.
Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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