Monday 1 February 2021
Diamond Foundry, one of the largest synthetics producers, has opened an international sales and distribution office in Dubai, citing the city’s beneficial location and connections with diamond centers.
The Silicon Valley-based company’s new outpost will be within the Dubai Multi Commodities Center (DMCC), a state-funded trading hub encompassing diamonds and other sectors. The opening ceremony took place at Almas Tower.
Dubai offers direct access to some of the world’s most important diamond markets, such as India, Israel, and Europe. This coupled with expertise in the sector and a seamless business setup process made the city the logical choice for the company.
The DMCC has been working to attract the lab-grown sector: It held its first tender of synthetic rough in 2018 and has registered manmade diamond companies as members, including Lumex, which opened an office in Dubai in 2019.
Diamond Foundry, established by entrepreneurs Martin Roscheisen and Jeremy Scholz and backed by actor Leonardo DiCaprio, produces lab-grown stones using a high-density plasma reactor and has been certified carbon-neutral by Natural Capital Partners.