Dubai Multi Commodities Centre

DMCC (Dubai Multi Commodities Centre) was established in 2002 by the Government of Dubai to provide the physical, market and financial infrastructure required to establish a hub for global commodities trade.

DMCC (Dubai Multi Commodities Centre)
مركز دبي للسلع المتعددة
TypeGovernment of Dubai Authority, Free Zone and Master Developer of Jumeirah Lakes Towers
IndustryFree Zone Authority, Commodities Trade and Exchanges, Real Estate and Property
Founded2002
Headquarters
Almas Tower, Dubai
,
United Arab Emirates
Key people
Ahmed Sultan Bin Sulayem, Executive Chairman & Chief Executive Officer
Number of employees
300+
Websitewww.dmcc.ae

Ahmed Bin Sulayem is the Executive Chairman & Chief Executive Officer of DMCC.

History

DMCC Free Zone is the largest free zone in the UAE, with more than 18,000 registered members as of 2021.[1][2] In 2018, DMCC was named number one global free zone for a fourth consecutive year by the Financial Times FDi magazine.[3][4]

DMCC recently launched the Middle East's first Google for Entrepreneurs Global Tech Hub with AstroLabs Dubai.[5]

Aerial View of Jumeirah Lake Towers (JLT)

DMCC supports commodity trading through organizations such as the Dubai Diamond Exchange (DDE), the Dubai Pearl Exchanges (DPE), DMCC Tradeflow, the Dubai Good Delivery Standard (DGD) for Gold,[6][7] the DMCC Tea Centre,[8] and the DMCC Coffee Centre.[9]

The Dubai Diamond Exchange (DDE) was established in 2004 to facilitate the development of the diamond and coloured gems market.[10] Dubai ranks third behind Antwerp and Mumbai in the leading global diamond hubs in terms of trade, growing from $300 million (Dh1.10 billion) in trade in 2002 to $26 billion in 2016.[11] The Dubai Pearl Exchange (DPE) provides facilities for traders in pearls and holds events like the World Pearl Forum. In early 2011, DPE held the first pearl auctions outside of the Far East.[12]

DMCC offers financial products. These include Dubai Commodity Asset Management (DCAM), Dubai Shariah Asset Management (DSAM), DMCC Tradeflow,[13] and the Dubai Gold & Commodities Exchange (DGCX).[14]

Awards
  • Global Islamic Finance Award for Best Supporting Institution, 2014.[15]
  • fDi Global Free Zones of the Year, 2015, 2016, 2017, 2018 and 2019.[16][17][3][4]
  • Facilitating Most Innovative Structured Transaction Award in 2007, Deal of the Year Award.[18]
  • Dubai Shariah Asset Management awarded as Best Shariah Compliant product provider, and DSAM Kauthar Commodity Fund received Best Funds of Funds Award, at the Hedge Funds World Middle East Conference 2010[19]
  • Best Fund-of-Funds, Failaka Islamic Fund Award, April 21, 2010.[20]

Property

DMCC, for which Jumeirah Lakes Towers (JLT) (Arabic: أبراج بحيرات جميرا) is the physical address, is a 200-hectare mixed-use free zone is grouped into clusters each comprising three tower blocks around three large lakes and a central park.[21][22] There are 68 towers and the 200-hectare development currently comprises approximately 180,000 sq/m of commercial, residential and retail space.[23]

Almas Tower, the headquarters of DMCC, was completed in mid-2008, is the world's 31st tallest structure. The 68-floor building houses around a thousand diamond companies, diamond vaults, a diamond trading floor, and the Almas Conference Centre (ACC).[24] DMCC's 2017 plan for the Uptown Dubai district includes more than 10 million square feet of commercial and residential space, more than 200 retail and F&B outlets, alongside 3000 residences, a central entertainment plaza and luxury hotels.[25]

List of JLT Towers
Cluster Tower 1 Tower 2 Tower 3
A A1 - New Dubai Gate 2 A2 - Laguna Tower A3 - Lake Side Residence
B B1 - Wind Tower II B2 - Lake View Tower B3 - Wind Tower I
C C1 - Fortune Tower C2 - Gold Crest Executive Tower C3 - The Palladium
D D1 - Indigo Tower D2 - Lake Terrace Tower D3 - Lake City Tower
E E1 - Global Lake View E2 - Al Sheraa Tower E3 - SABA Office
F F1 - Bobyan Tower F2 - HDS Tower F3 - Indigo Icon
G G1 - Dubai Arch G2 - Jumeirah Business Centre 1 G3 - Al Fajer Properties (most likely JBC 8 or 9)
H H1 - Jumeirah Business Centre 7 H2 - Concorde Tower H3 - Al Fajer Properties (most likely JBC 8 or 9)
I I1 - Silver Tower I2 - Platinum Tower I3 - Gold Tower
J J1 - Gold Crest Views 2 J2 - Unknown Tower J3 - Bonnington Tower
K K1 - Under Construction K2 - Under Construction K3 - Under Construction
L L1 - Jumeirah Business Centre 6 L2 - Dubai Star L3 - Ikon Towers
M M1 - HDS Business Centre M2 - M3 - Ikon Towers
N N1 - The Dome N2 - Lakepoint N3 - Jumeirah Business Centre 4
O O1 - Reef Tower O2 - O2 Residence O3 - Madina Tower
P P1 - Armada Towers 1 P2 - Armada Towers 2 P3 - Armada Towers 3
Q Q1 - SABA Twin Towers Q2 - New Dubai Gate 1 Q3 - SABA Twin Towers
R R1 - Al Waleed Paradise R2 - MAG 214 R3 - Al Saqran Tower
S S1 - Green Lake Towers S2 - Green Lake Towers S3 - Green Lake Towers
T T1 - Fortune Executive T2 - Lake Plaza T3 - Pullman Hotel Dubai, JLT
U B1 - U1 - Al Seef Tower 3 U2 - Al Seef Tower 2 U3 - Tamweel Tower
V V1 - Jumeirah Business Centre 2 V2 - Gold Crest V3 - V3 Tower
W W1 - Jumeirah Business Centre 5 W2 - Tiffany Tower W3 - LIWA Heights
X X1 - Jumeirah Bay X2 - Jumeirah Bay X3 - Jumeirah Bay
Y Y1 - Jumeirah Business Centre 3 Y2 - Lake Shore Tower Y3 - Swiss Tower
Z Z1 - Jumeirah Lake Apartments Z2 - Anantara Hotel & Spa Z3 - Jumeirah Lake Offices
AA AA1 - Business Avenue AA2 - Amesco Tower AA3 - Corporate Tower
BB BB1 - Business Avenue BB2 - Business Avenue BB3 - SABA TOWER 4

See also

References
  1. "DMCC signs UN women's empowerment principles advancing gender equality". Retrieved 2018-10-09.
  2. "The National - The Middle East. Explained". The National. Retrieved 2018-05-28.
  3. "Dubai's DMCC named the world's top free zone for third year". ArabianBusiness.com. Retrieved 2018-10-09.
  4. Intelligence, fDi. "fDi's Global Free Zones of the Year 2018 – the winners". www.fdiintelligence.com. Retrieved 2018-10-11.
  5. "DMCC, AstroLabs and Google team up for tech hub launch". The National. Retrieved 2018-05-28.
  6. Reporter, Cleofe Maceda, Senior (2012-03-03). "UAE's first gold coin to go on sale by end of this month". GulfNews. Retrieved 2018-05-28.
  7. Reporter, Cleofe Maceda, Senior (2012-03-17). "UAE's first gold coin a good option, expert says". GulfNews. Retrieved 2018-05-28.
  8. "Archived copy". Archived from the original on 2011-07-11. Retrieved 2011-08-17.CS1 maint: archived copy as title (link)
  9. "Dubai's DMCC to launch coffee centre in November". Retrieved 2018-10-11.
  10. "DMCC Blog". DMCC. Retrieved 2018-05-28.
  11. Reporter, Andrew Staples, Chief Business (2017-10-16). "VAT imperils Dubai's diamond trade, DDE chairman warns". GulfNews. Retrieved 2018-10-09.
  12. "Dubai Multi Commodities Centre Events". DMCC. Retrieved 2018-05-28.
  13. Editorial, Reuters. "Dubai launches commodity finance, storage system". U.S. Retrieved 2018-05-28.
  14. Financial.net, CPI. "DGCX attracts wider regional participation in February 2016". CPI Financial. Retrieved 2018-05-28.
  15. "DMCC Tradeflow receives Global Islamic Finance Award for Best Supporting Institution 2014". wam. Retrieved 15 April 2017.
  16. "fDi Global Free Zones of the Year 2014 – Winners". www.fdiintelligence.com. Retrieved April 15, 2017.
  17. "fDi Global Free Zones of the Year 2015 – Winners". www.fdiintelligence.com. Retrieved 15 April 2017.
  18. "DMCC Tradeflow receives logistics project of the year award | Zawya MENA Edition". www.zawya.com. Retrieved 15 April 2017.
  19. "Hedge Funds World Middle East Awards select winners from across the region" (PDF). www.aps.com.sg. March 9, 2010. Retrieved 15 April 2017.
  20. "DMCC's DSAM Kauthar Commodity Fund named 'Best Fund-of-Funds' - Business Intelligence Middle East - bi-me.com - News, analysis, reports". www.bi-me.com. Retrieved 15 April 2017.
  21. Leijen, Majorie van (2014-01-16). "Dubai residents flock to JLT's newly-opened park". Emirates 24|7. Retrieved 2018-05-28.
  22. Reporter, Aya Lowe, Staff (2011-05-20). "Giving business its best chance". GulfNews. Retrieved 2018-05-28.
  23. "DMCC head proud to be on track with e-government project". The National. Retrieved 2018-05-28.
  24. "Dubai tower that shines as bright as a diamond". The National. Retrieved 2018-05-28.
  25. "DMCC begins work on Uptown Dubai district | Middle East Construction News". Middle East Construction News. 2017-09-26. Retrieved 2018-08-07.

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