Dubai Multi Commodities Centre
Dubai Multi Commodities Centre (DMCC) 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. 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. In 2018, DMCC was named number one global free zone for a fourth consecutive year by the Financial Times FDi magazine. DMCC recently launched the Middle East's first Google for Entrepreneurs  Global Tech Hub with AstroLabs Dubai. 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, the DMCC Tea Centre, and the DMCC Coffee Centre. The Dubai Diamond Exchange (DDE) was established in 2004 to facilitate the development of the diamond and coloured gems market. 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. 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. DMCC offers financial products. These include Dubai Commodity Asset Management (DCAM), Dubai Shariah Asset Management (DSAM), DMCC Tradeflow, and the Dubai Gold & Commodities Exchange (DGCX). Crypto currency. DMCC has issued first сrypto assets trading license for making over-the-counter transactions with cryptocurrencies at 26th of May 2021 in order to develop the crypto industry in the United Arab Emirates. Until the moment trading operations with crypto currency were illegal  in UAE. 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. There are 68 towers and the 200-hectare development currently comprises approximately 180,000 sq/m of commercial, residential and retail space. 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). 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.