Dubai has a long time trading history, within the Persian Gulf and outside of it. Although Dubai has gained a name for itself not in connection with diamonds but for its pearl and gold trading, diamonds mean a fast growing business and this way a new challenge for Dubai to take.
The jewellery, gold, gems and diamonds have always played an important role in the everyday life of Dubai families. Gold and diamonds mean wealth and power over here. The numbers and quality of a woman’s ring counts so much, even more emphasis is put on the wedding rings, and wedding jewellery, of course for women, as Muslim men cannot wear gold according to the Holy Quran. The Dubai diamond
trading has long history.
The dhows of Dubai were those that were to carry the goods to and from Dubai. The main partners of Dubai have been its neighbouring sheikhdoms and countries, Iran and Turkey, but dhows even went a lot further, to carry precious metal and gems to Dubai. These countries are India and some East African countries and Madagascar. On time, Dubai got into relation with European merchandisers through its high quality pearl, which had made the base and main income for them. However, unfortunately the pearl industry of Dubai had become extinct due to the many wars in the Persian Gulf, which have polluted the water in such a way, that it was no longer able to produce pearls.
Dubai has long time roots with India, possibly the hugest trading country of Asia and Dubai has established relation several partnerships with huge Indian firms, which are producing gold and diamonds as well. Dubai can mainly thank its flourishing gold trading business to India. Still today, the main minority of the population is Indian. The number of merchants from India is also very high; their presence in the jewellery trading industry is also quite strong. For example, the Joyalukkas Jewellery, being one of the top jewellery makers and sellers in Dubai, is also an Indian company. Their Bridal Collections made out of diamonds are breathtaking. They were the very first to establish a Bridal Centre dedicated specifically for bridal jewellery.
Other big name in Dubai the DAMAS Jewellery has its roots in Syria. Today, Damas is the top jewellery seller of Dubai. As for the enhancing of diamonds business, Dubai has set up several organizations, the Dubai Diamond Exchange being the longest-term member of the World Federation of Diamond Bourses (WFDB).
The modern business facilities in dealing with diamonds are also helped by the Jumeirah Lakes Towers complex, representing its hugest tower the AL MAS meaning diamond in Arabic, courted by the Gold and Silver Towers as the new headquarters of Dubai’s Jewellery business. The huge Dubai Jewellery Week is also predestined to promote Dubai’s great business possibilities in diamonds and gem business, not to mention gold trading.
Today, Dubai is simply full of the best jewelleries dealing with most of the best quality diamonds and jewelleries. The jewelleries are represented everywhere, you can find them in every shopping malls of Dubai, not to mention the so-popular Gold Souk, in the Deira district.