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Monday, November 10, 2008

Dubai Multi Commodities Centre

Dubai is rapidly becoming one of the leading financial centers of the world. Already, Trader Monthly magazine has rated Dubai number 10 on its 'Top Trading Cities of the World' list! And Dubai is just getting started! One of Dubai's largest Financial Mega Projects is the Dubai Multi Commodities Centre (DMCC). From DMCC:

'A strategic initiative of the Dubai government, The Dubai Multi Commodities Centre (DMCC) was created to establish a commodity market place in Dubai, and provide industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & colored stones, energy and other commodities industries. Rated ‘A’ by Standard & Poor’s, the world’s foremost provider of independent credit ratings, DMCC is a free zone authority offering 100% business ownership, a guaranteed 50 year tax holiday and freehold property options.'

DMCC was established in 2002 and occupies a huge 200 hectare area that is the centerpiece of the Jumeirah Lake Towers development. DMCC is ideally located in close proximity to the major port of Jebel Ali and in easy reach of Dubai International Airport. Already DMCC has over 1300 registered members, and the number continues to grow. The DMCC development includes 3 Towers, each tower named after a commodity traded at DMCC:

> Almas Tower (Diamond Tower): This 65 floor Tower has been specifically built to cater to the Diamond Industry. Almas houses the regions only diamond exchange-- the Dubai Diamond Exchange. The Dubai Pearl Exchange will also be located here. The Tower, as you can no doubt imagine, will have the finest hi-tech security systems and secure vaulting facilities for its occupants. Conference Centers, a Business Center, and a Retail Boulevard will also be part of Almas Tower.

> Au Tower (Gold Tower): The tower will be 37 floors high on completion and will have facilities that enhance gold trading and will provide commercial and support facilities for market participants in a wide range of gold-related businesses. The entire Tower will look like one huge piece of gold because all of the glass that makes up the Tower is gold tinted! Au Tower will also have a retail area where all things gold will be offered.

> Ag Tower (Silver Tower): This 37 floor Tower will serve the needs of all other precious commodity related businesses at DMCC.

In addition, DMCC has many plots of land which have been set aside for specialized manufacturing operations that will be opening.

Another large facility at DMCC is the Jewelry and Gemplex which consists of 3 buildings of 12 floors with a total available space of 6000 square meters for each building. The Jewelry and Gemplex has been designed specifically to meet the needs of the jewelry fabrication business. There will even be staff accommodations here complete with dining and entertainment areas to house the jewelry workers!

DMCC will also house an Enterprise Zone. This is a Free Zone that will accommodate actual gold refineries and jewelry workshops. Office space will also be available here as well as all necessary infrastructure.

"Established with the objective of delivering a world-class and specialized market infrastructure to the commodities industry, DMCC has served to streamline commodities trading, by establishing and promoting the concepts of transparency and good governance and implementing international best practices," said Dr. David Rutledge, CEO of DMCC.

DMCC is a premier Dubai Financial Mega Project that will take the Emirate to the forefront of the financial world! Along with Business Bay and Dubai International Financial Centre, DMCC will make Dubai a leading global financial powerhouse!

This link takes you to the DMCC website:

http://www.dmcc.ae/

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