Dubai Multi-Commodities Centre, the free zone for trading diamonds to derivatives, has pulled in its 10,000th member company, making it one of the fastest-growing free zones in the world.
Primetals, a trading joint venture between two heavyweight global corporates — Siemens of and Mitsubishi — became member number 10,000 registered with the authority.
In comparison, more than 1,225 companies operate from the Dubai International Financial Centre, where nearly 18,000 people are employed. More than 7,100 manufacturers, logistics firms and trading groups are based at the Jebel Ali Free Zone
“We have established a great infrastructure and provide the right environment to allow companies to set up easily, trade with confidence and grow,” said Ahmed bin Sulayem, the DMCC executive chairman. “Reaching 10,000 members is just the start for us.”
Set up in 2002 to enable Dubai to become a trading hub in commodities, precious metals and gems, the DMCC free zone now encompasses 66 towers in its Jumeirah Lakes Towers base.
To celebrate reaching the milestone, DMCC is planning to give away specially minted gold coins.
Every day for the next week, a golden cut-out of the logo #myDMCC will be hidden — not too seriously — somewhere in the free zone. Eagle-eyed observers should post a picture on social media of any they find to be eligible for a grand gold coin draw on May 17.
The Emirates Red Crescent stands to gain some Dh500,000 from the competition.
The DMCC is currently planning to build the Burj 2020, designed to be the world’s tallest commercial tower and recently launched an initiative to be the centre of the diamond financing business in the Middle East.
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