In a high-profile visit that reflects Dubai’s growing stature in global trade, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense, visited the Dubai Multi Commodities Centre (DMCC) on Monday. This visit comes as DMCC announced a historic milestone — over one billion carats of rough and polished diamonds have been traded through Dubai in the past five years, solidifying its position as a global hub for diamond trade.
Sheikh Hamdan toured the Dubai Diamond Exchange — the world’s largest diamond tender facility — accompanied by Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications. He reviewed a selection of rough and polished diamonds, colored gemstones, and lab-grown diamonds, and received a briefing on DMCC’s integrated diamond trade system, including the strategic expansion of the American Gemological Institute within Uptown Dubai.
DMCC: A Pillar of Dubai’s Global Trade Vision
Sheikh Hamdan commended DMCC for driving international trade and attracting foreign investment, noting its integral role in the Dubai Economic Agenda (D33). He emphasized Dubai’s commitment to building efficient, globally connected economic systems that attract talent, capital, and innovation into key growth sectors.
He remarked via the social platform X (formerly Twitter):
“Today, I visited DMCC and witnessed its contributions to global trade through advanced infrastructure, flexible regulations, and a comprehensive services ecosystem supporting 25,000 companies from 180 countries.”
He added:
“I also visited the Dubai Diamond Exchange, now the world’s largest for diamond tenders, where diamond trade has grown by 177% in five years, surpassing one billion carats. We’re proud of this center, its dynamic leadership, and its role in shaping Dubai’s economic future.”
Launch of DMCC’s Visionary Strategy 2033
Coinciding with the visit, DMCC unveiled its ambitious “Strategy 2033”, aiming to build advanced ecosystems in sectors like diamonds, gold, energy, AI, blockchain, Web3, and e-gaming. The strategy is built on DMCC’s proven business model that has already made it one of the fastest-growing free zones globally. The centre is expected to exceed 26,000 registered companies by year-end.
Transforming Dubai’s Urban and Economic Landscape
DMCC’s impact extends beyond trade. Its developments in Jumeirah Lakes Towers and Uptown Dubai have turned these districts into vibrant business and lifestyle hubs. It’s also at the forefront of supporting emerging sectors such as Web3, cryptocurrency, and artificial intelligence — contributing to Dubai’s position as a global innovation powerhouse.
Dr. Hamad Buamim, Chairman of DMCC, said:
“Sheikh Hamdan’s visit reaffirms our central role in making the UAE a global force in diamond trade and future industries. Our integrated economic model continues to attract global investments and pioneering companies.”
Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, echoed the sentiment, highlighting the zone’s role in shaping the future of trade across gems, energy, and tech sectors.
“We’re focused on building interconnected, adaptive ecosystems ready for future challenges and opportunities,” he stated.
Pioneering New Frontiers in Trade and Innovation
Feryal Ahmadi, DMCC’s COO, described the center as a major player in shaping the future of global commerce:
“Our 2033 Strategy aims to create agile, resilient systems that empower innovation and sustainable growth in a rapidly evolving global economy.”
The UAE has maintained its leading position in rough diamond trade since 2021, with polished and lab-grown diamonds contributing significantly. In 2024 alone, the Dubai Diamond Exchange hosted 85 tenders, underscoring its role as a cornerstone of the global diamond trade ecosystem.
Through cutting-edge infrastructure, regulatory flexibility, and strong international networks, DMCC has built a powerful platform that supports over 25,000 companies across 180 countries. From traditional trade in tea, coffee, and precious metals, to new frontiers like AI and blockchain, DMCC is a key driver of Dubai’s dynamic economic landscape — and a global model for innovation-led growth.
