RAPAPORT... A UAE jeweler has confirmed plans to set up design and productions facilities that will increase the country’s capacity to manufacture locally made jewelry, enabling ‘Made in UAE’ imprint to spread out more in the Gulf and further afield.
Malabar Gold & Diamonds, a major retailer, is to open a $20 million (AED75 million) facility at Dubai TechnoPark, which is a part of the Economic Zones World and a subsidiary of DP World, for designing and manufacturing up to 2,000 kilograms of 18- and 22-carat and studded jewelry per month, according to Gulf News. A second expansion phase costing $6.8 million is set to follow.
Malabar already operates two facilities in Sharjah with a combined monthly capacity of 500 kilograms.
“New capacities, from us and others, will make sure the UAE’s gold and jewelry sector takes care of the entire value chain.” M.P. Ahammed, the chairman of Malabar Group, said. “Currently, Turkey can claim to be the regional hub for the jewelry-making side of the business. Dubai and the UAE can easily claim that title in future.”
Meanwhile, Indian retailer Kalyan Jewellers, which already has a production facility in Sharjah, told Gulf News it would make a decision in the next financial year starting April 1, 2016 regarding the launch of a second jewelry design base in the UAE.
“It was just four months ago that the first base was commissioned, which has been achieving a capacity of 150 kilograms a month,” T. S. Kalyanaraman, the chairman and managing director of Kalyan, said.
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