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Press Release: Reinforcing its growing status as a global diamond hub, Dubai hosted the “Diamond Fashion Show” on January 27 at Armani Pavilion under the bright lights of the Burj Khalifa. Held as part of the Dubai Shopping Festival's (DSF) 20th anniversary in partnership with Dhamani, the most expensive fashion show in the world featured a display of diamond jewelry worth over $100 million. From more than 10 pieces of diamonds weighing 50 carats or above to four stunning pieces of rare 100-carat diamonds, the “Diamond Fashion Show” assembled the most awe-inspiring collection of prized jewels ever exhibited on a catwalk. It included an outstanding collection of rare natural fancy colored diamonds, delighting audiences for the finale of the glistening catwalk show, and the event reflected the unique quality of Dubai’s luxury market, which is home to some of the world’s most precious and rare treasures. The diamond jewelry for the exclusive, invitation-only event was provided by Dhamani – one of the UAE’s most remarkable homegrown success stories in the jewelry business and the sole distributor of the 99-faceted Dubai Cut diamond. The “Diamond Fashion Show” comes against the backdrop of Dubai – already acknowledged as the world’s leading physical gold market – rapidly emerging as the diamond trading center of choice. Dubai’s annual diamond trade now stands at over $40 billion, with about half of the world’s production of rough diamonds passing through the Dubai Diamond Exchange. “While Dubai has always been renowned as a gold trading center, the story of the last decade really is the city’s amazing transformation into a global diamond hub,” said Laila Mohammed Suhail, the CEO of Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (DTCM) and the organizers of DSF. “Dubai offers a favorable environment for diamond traders, with its business-friendly policies, simplified procedures and its reputation as a tax haven combining to offer a value proportion unmatched elsewhere in the world. Most importantly, Dubai is situated at the crossroads of Europe and Asia and connects all major global diamond centers.” Amit Dhamani, the CEO and managing director of Dhamani Jewels, said, “Dubai is fast evolving into the world’s pre-eminent diamond trading center and this ‘Diamond Fashion Show’ is a nod to the city’s astonishing recent success as a major global diamond capital. The event underscores the uniqueness and growing eclecticism of Dubai’s luxury market, showcasing rare gemstones and diamonds one would typically find only in the loftiest of global museums. In fact, it would be news to many that the city is today one of the world’s most extensive and stunning repositories of precious stones and jewels.” The 20th edition of DSF runs through February 1, offering citywide events, numerous shopping opportunities and winning options for residents and visitors from around the world.
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