Dubai Reveals Plans for "Pearls of Arabia"

by New Article from Al Bawaba

Dubai High Rise

Nearly a century after the last pearling fleet lifted anchor from Dubai, the emirate's historic status as the pearl centre of the Gulf is set to be revived in truly spectacular fashion. Today, at an official ceremony at The World, Dubai Multi Commodities Centre (DMCC) unveiled its ambitious plans for "Pearls of Arabia," a landmark project that will feature a high-quality offshore entertainment, retail and educational centre. This project is the first stage of Dubai's plan of reestablishing the emirate as a centre for the global pearl trade.

In association with Paspaley Pearling Co. PTY Ltd, the world's original south sea pearl company and producer of the world's finest pearls, DMCC will establish a 6,000-square-metre Experience Centre on Antarctica at The World Islands. The destination feature a pearl-themed cultural heritage centre, a performing arts theatre, an exhibition gallery and a themed restaurant alongside boutiques inviting participation from the leading international names in the pearl industry. Visitors will travel to this unique destination by water ferries, transporting them across the manmade archipelago of 300 islands and into the region's storied past. The facility is expected to be complete by end 2010.

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Dubai to Reappear as World Pearling Center

by Adam Gonn
("Mideast News Source")

Nowadays Dubai is known as the miracle economy of the Gulf, managing to turn its oil wealth into a diverse economy.

Less than a century ago, however, the Gulf was home to some of the best pearls in the world, due to the formation of the seabed, the temperature and shallowness of the water.

Some 80,000 men were involved in pearling in the UAE alone and the sale of pearls represented 95 percent of the country's revenues. It is this heritage that Dubai’s Multi Commodities Centre (DMCC) plans to present in the new Dubai Pearl Museum, which will house special types of pearls from various regions.

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Dubai Hopes to Bring Back the Glory Days of Natural Pearls

Dubai is known for its oil riches and spectacular architecture, but it craves a return to its old glory, and the origin of its prosperity as the major producer of natural pearls.

In the past, pearl divers could hold their breath for two minutes and dive into the warm waters of the Gulf for the aquatic gems. The lucrative trade was based on these ?amphibious? men. Many died and many got rich. It was a time when a pearl was more expensive than gold ? a time when the Gulf was the world's pearl trade epicenter with $4 million revenue a year at the start of the 20th century.

In the 1930s that industry was turned upside down overnight, leaving the country desperate, when cultured (technologically altered) pearls were introduced by the Japanese, meaning they were no longer rare. In the 1960s, the oil boom returned the Gulf people's interest to the sea, despite the value of natural pearls having fallen by 90%. But nowadays, while the pearl market is packed with cultured pearls from the Far East and West, natural pearls have returned to their throne, and an ambitious Dubai is attempting to revive the 3000-year-old pearl trade with an eye on the multibillion dollar natural and cultured pearl market.



?The pearl trade is good nowadays,? says Ahmed Nasser, the manager of Dubai's Al Fardan Jewellery, ?in the 1950s-1960s the pearl value decreased because of the oil boom and cultured pearls, but nowadays the natural pearl price is growing since the market is full of cultured pearls and a natural pearl is a rare find.? The Al Fardan name has had a strong association with pearl trading in the Gulf for over a century, focusing on natural pearl trading.

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Pearl Essence Dubai Details Unveiled

by Xpress News

Jewellery designers from all over the world are set to descend upon Dubai next year for what is dubbed as the Oscars of pearl jewellery design, the Dubai Multi Commodities Centre (DMCC) announced on Tuesday.

“Pearl Essence” – an International Pearl Jewellery Design Programme, is a global design initiative for pearl jewellery initiated by DMCC, a government-backed commodity marketplace that seeks to revive the pearling tradition in the UAE and create a platform for the coloured stones trade.

Ahmed Bn Sulayem, Executive Chairman of DMCC, who launched the event in a press conference, said,“Dubai’s pearling industry has always been linked to the Gulf region and the outside world. It’s not a self-contained city. Dubai flourished the day it opened its doors and relaxed duties to merchants,” he said.

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Dubai Pearl Exchange holds its first pearl tender

The sales amounted to over $1 million

The first pearl tender by the Dubai Pearl Exchange was held last month, generating sales worth over $1 million. The event accommodated 40 companies amongst whom buyers were keenly interested in the natural pearls, strands with important single pieces.

The prominent pieces at the sale were - a very rare drop-pair of Paspaley Pearls' natural pearls, bought by Swiss Pearls of Switzerland. Another was a set of cherry-coloured Robert Wan Tahitian pearls, strand and earrings, sold to Shafiian Gem. A strand of pink cultured South Sea pearls from Paspaley Pearls and a strand of gold cultured South Sea pearls from Cogent were sold to Pearls of Nippon.

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Dubai to Host First-Ever Global Pearl Forum

by Indo-Asian News Service

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This metropolis on the Gulf coast will be the venue of the first-ever global conference on pearls.

The Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), has announced that it would host the first-ever World Pearl Forum here February 17-19 next year, with the objective of bringing together the global pearl sector, and addressing ways to grow the worldwide market for pearl jewellery, according to a DMCC statement.

The event is being sponsored by Dubai World, the global investment company of the Dubai government, and is part of DMCC's continuing effort to revitalise the global pearl trade, and build on Dubai's historic status as the pearl centre of the Gulf. DMCC is an arm of Dubai World.

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Dubai Pearl trade records over 300 per cent year-on-year growth during 2008

The Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), announced that Dubai’s pearl trade more than quadrupled during 2008 underlining Dubai’s active role in the global pearl market.

Reports from the Statistics Department of Dubai World indicate that the value of the loose pearl trade in Dubai grew from AED 22 million in 2007 to over AED 95 million during 2008 representing a total year-on-year growth of 324%.

Import of pearls, both natural and cultured, increased in value from AED 15.6 million in 2007 to AED 50.1 million in 2008 while re-export increased from AED 6.4 million to AED 45.6 million during the same period. Dubai’s total pearl trade in 2006 was AED14.9 million. The statistics represent both natural and cultured loose pearls and does not include strung, mounted or those set in jewellery.


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Dubai Desires to Become Pearl Trade Center

The two-day World Pearl Forum, organised by the Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), concluded last Wednesday with industry calls for Dubai to take a leadership role in driving the future collective growth of the global pearl trade. Last week’s Dubai-based event, held under the patronage of HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, proved successful in achieving the objective of uniting leading pearl industry professionals for the first time.

Stressing the need for greater coordination among the diverse types of pearls represented by the global pearl industry, participants from across the world called for action from industry leaders to ensure effective positioning of pearls as a division amongst the jewellery sector. Industry leaders cited Dubai’s positioning as the ideal location, and in turn the Dubai Pearl Exchange, as the ideal platform to coordinate such an initiative given its neutral positioning and ability to drive fundamental projects such as the World Pearl Forum.

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Pearl Commission votes on Amendments to the Pearl Blue Book

Dubai, United Arab Emirates--The CIBJO Pearl Commission has voted on a number of amendments to the Pearl Blue Book, a definitive set of standards for pearl grading, methodology and nomenclature that the commission has updated each year since the guide's publication in 2006.

The new amendments, including a unanimous vote against the use of the term "cultured" to describe synthetic diamonds, as well as board elections, were made during the most recent CIBJO Congress, held in April of 2008 in Dubai, United Arab Emirates.

The Pearl Commission re-elected Martin Coeroli as president, Shigeru Akamatsu as vice president, and elected Gati Rabbani as a second vice president. The commission also adopted new resolutions on the definition of Clause 5.16 "bead" for cultured pearls, Clause 5.110 "luster enhancement," Clause 5.132 "nacre thickness," Clause 5.52 "cultured blister" and Clause 5.220 "working."

Looking ahead, the Pearl Steering Committee is finalizing the proposals that will be presented at the 2009 CIBJO Congress, taking place May 3-5 in Istanbul. The proposals include recommendations to disclose a new cultured pearl treatment in which metal fluids are injected into a pearl's sac to induce varying colors as "color-induced cultured pearls;" to change the "Salt Water Cultured Pearls" Clause 4.2.8 to have the word "saltwater" always preceed the words "cultured pearl" in any reference to a "saltwater cultured pearl;" and to complete the appendix list of pearl mollusks.

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Dubai to Host Pearl Jewelry Design Program

by JCKonline.com

Some of the world’s leading luxury jewelry designers and regional jewelry design students have received exclusive invitations from Dubai Multi Commodities Centre to take part in the inaugural “Pearl Essence”—the Dubai international pearl jewelry design program.

The program incorporates different categories of pearls, including Tahitian, South Sea, Akoya, and Freshwater.

“Pearl Essence’ is a two-tier program incorporating both leading professional designers and students of jewellery design,” said Ahmed bin Sulayem, executive chairman, DMCC. “The professional designer tier will constitute a custom-designed collection of pearl jewelry pieces, created by ten invited luxury brands inspired by the rich Arabian pearling heritage and represented in a modern and contemporary fashion. The student tier is a competition for final year students from schools that offer a minimum two-year full time jewellery design course, spanning a broad geographical market.”

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Dubai Pearl completion set for 2013

Dubai Pearl, a 1.85 million-square-metre mixed-use luxury development implemented by Pearl Dubai F Z LLC, is set to be complete by 2013.

Abdul Majeed Esmail Al Fahim, chairman of Dubai Pearl, announced that in order to reach completion, the project has adjusted to the financial environment. "We at Dubai Pearl have emphasised prioritising the following key areas in order to adapt to the economic scenario: a focus on the steady progress in the construction and the delivery of the project, flexible and tailor made payment plans to our investors, close and transparent relations with our investors and partners, and an intensive campaign to raise awareness on all the project's components."

The $4 billion (Dh14.6 billion) development is located on the fringes of the Dubai Technology and Media Free Zone, a business cluster operated by Tecom Investments and home to global IT and media companies.

Promoting itself as a walkable city, 56 per cent of the total land mass comprises of open space with 45 per cent of the project area landscaped. The development aims to be a luxury free zone and freehold development with easy access to transport links, private beach club on the World Island.

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Dubai Strives to Become Pearling Center

by Simeon Kerr
(Dubai)

One of the toughest moments in Dubai’s history came when Japanese scientists discovered how to culture pearls. The process devastated the economies of the Gulf region in the 1930s as the primary industry, diving for natural pearls, collapsed and depression in the US punctured demand.

So the symmetry of Dubai seeking once again to become a pearl trading hub is apt just as the global credit crunch curbs the city-state’s financial and real estate sectors.

“Maybe there is some sentimentality here, but we do believe Dubai can once again become a pearl trading centre, even if it does not turn into a multibillion-dollar industry here,” says Ahmed Sulayem, chairman of the Dubai Metals and Commodities Centre (DMCC).

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Rare Natural Pearls For Sale in Dubai

by TradeArabia News Service

Particular importance will fall on pearls in this jewellery sale season. The 31 lots of gem quality pearls, featured in the sale are significant owing to their exceptional size, fine shapes, beautiful lustre and unusual color range, including grey, black, brown, yellowish orange, purplish grey and greenish grey.

Along with two of the largest pearls ever recorded, this sale also includes one of the most important pearl necklaces to have been auctioned. The special pearl section is estimated to make $5 million.

Generating considerable pre-sale interest is the extraordinary natural pearl necklace presented as a gift to legendary Arab icon, Umm Kulthum, by Sheikh Zayed Bin Sultan Al Nahyan, the late ruler of the UAE, being sold by family descendents as a star lot and expected to fetch $80,000-120,000.

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150+ delegates confirmed for inaugural World Pearl Forum

Attendees from Tahiti to Bahrain converge to hear global pearl experts



The inaugural World Pearl Forum, organised by the Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), will see participation from more than 150 delegates from leading pearl producing nations. The World Pearl Forum which is supported by Dubai World, will be held on February 17 and 18 at the Atlantis Hotel, Palm Jumeirah. It will host 22 pearl experts from the US to China, highlighting initiatives to consolidate the fragmented global pearl sector, for increased growth potential in 2009 and beyond.



The World Pearl Forum will see participation from senior representatives from pearl producers, national pearl bodies, certification specialists and jewellery trade experts. The forum will address several fundamental issues, providing participants with the opportunity to debate the latest challenges in the global pearl sector.

Ahmed Bin Sulayem, Executive Chairman, DMCC said, “In addition to strong international attendance, we are honoured that HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE, and Ruler of Dubai, is extending her patronage for the first-ever World Pearl Forum. Her presence and participation truly epitomises our objective in revitalising Dubai’s ancient pearling heritage in a contemporary manner, strengthening the Emirate’s leadership role in shaping the global pearl sector. It also underlines the support that this project continues to receive from the Government of Dubai.”

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Christie's Jewel Sale in Dubai totals $20.1m

by AME Info

For centuries, many of the finest pearls in the world came from Arabian waters. It is therefore very fitting that Christie's sold tonight in Dubai one of the most important groups of natural pearls to have appeared at auction for many decades, including some of the rarest pearls in the world.

This evening's dedicated section of natural pearls realized $6,161,300 / Dhs22,611,971 / €3,977,735 and was led by an exceptional four-row pearl necklace with 217 gem quality pearls, with a suspended exceptionally large button pearl, weighing 219.32 grains (54.83 carats) which sold for $1,743,400 / Dhs6,398,278 / €1,125,539, the highest price ever realised for an object sold by Christie's in the Middle East.

The magnificent natural pearl necklace of Umm Kulthum (1904-1975) sold tonight for $1,385,000 / Dhs5,082,950 / €894,156, more than ten times its pre-sale estimate of $80,000-$120,000.


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Cultured Pearl Farm in United Arab Emirate of Ras Al Khaimah

Al-Muhairbi, who is enjoying a quiet retirement, heard in 2008 that cultured pearls had finally been produced in the emirate of Ras Al Khaimah after repeated attempts that failed due to a lack of technology.

On a visit to a pearl oyster farm run by Abdulla al-Suwaidi, 35, al-Muhairbi saw a pearl taken from an oyster and was struck by its yellowish glow. It was as large as a natural pearl.

Al-Suwaidi started culturing pearls in Ras Al Khaimah in 2005 with Daiji Imura, 44, a former pearl dealer from Ise, Mie Prefecture. He happened to meet Imura when he was looking for a cultured pearl necklace to present to his wife on their first wedding anniversary. Al-Suwaidi was working in Japan at the time.

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Dubai leads industry dialogue for global pearl trade growth

Dubai will take the lead next week when regional and international pearl experts from 20 countries come together for the inaugural World Pearl Forum, being held from 17-18 February, 2009 at the Atlantis hotel, Palm Jumeirah in Dubai.

Hosted by the Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), the forum seeks to harness the experience of more than 25 experts from across the globe at a single forum, to discuss the collective growth strategy for pearls in view of the issues, latest initiatives and developments that affect the global pearl trade.

Despite global downturn, there is still growth potential for pearls as a luxury product in emerging markets, where Dubai is ideally positioned to provide a platform for international businesses and play a lead role in promoting industry growth.

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GIA to offer its first pearl classes in Dubai

The Gemological Institute of America (GIA) will present, for the first time, pearl classes in Dubai.
The first two-day pearl class will be held on May 12-13, from 9 am-4 pm. The class costs US$225 for DGJG members and US$ 250 for non-members.

The second workshop will be held on May 14 from 9 am-4 pm and will cover pearl and bead stringing lessons. The class costs US$ 150 for DGJG members and US$ 175 for non-members.

The venue for both the classes is Dubai Gold & Jewellery Group (DGJG) at the Dubai Gold Land Building. Students after successfully completing the classes will be presented with a GIA letter of completion.

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Pearls of the Gulf

DUBAI // Overlooking the abras and wind towers of Dubai Creek, Jamila Bu-eisha reflects on the treasure that brought the Gulf its first taste of wealth. “In myths and legends, pearls were associated with beauty, longevity and perfection,” she says.

“It was very expensive, very valuable. This explains why people used to dive and have a very risky job to provide the market with pearls.”

Ms Bu-eisha is the manager of the Pearl Museum, located on the Creek in the glittering towers of the National Bank of Dubai. The museum is home to the personal collection of Sultan al Owais, one of the bank’s founders and the son of a pearl merchant. Mr al Owais donated his natural pearl collection, one of the largest in the world, as a reminder of the little jewel that brought trade to the Gulf and hardship to the divers who risked death to find it.

Life in the region revolved around the pearl for centuries, according to archaeological evidence, from the Late Stone Age in the 6th/5th millennia BC. References to Gulf pearls in Asian literature date to the second millennium BC.

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