Talk:Dubai Multi Commodities Centre

{{Infobox company | name = DMCC (Dubai Multi Commodities Centre) <br />{{lang|ar|مركز دبي للسلع المتعددة}} | type = Government of Dubai Authority, Free Zone and Master Developer of Jumeirah Lakes Towers | key_people = [[Ahmed Sultan Bin Sulayem]], Executive Chairman Gautam Sashittal, Chief Executive Officer | industry = Free Zone Authority, Commodities Trade and Exchanges, Real Estate and Property | num_employees = 300+ | homepage = {{URL|http://www.dmcc.ae/}} | footnotes = | foundation = 2002 | location_city = [[Almas Tower]], [[Dubai]] | location_country = [[United Arab Emirates]] | location = <!--modifies "Headquarters" entry--> | locations = <!--# of locations--> }} '''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. <ref>{{Cite web|url=http://businessweekme.com/interview-gautam-sashittal-ceo-dmcc/|title=Interview: Gautam Sashittal, CEO, DMCC|date=2018-09-02|website=Bloomberg Businessweek Middle East|language=en-US|access-date=2019-02-06}}</ref> [[Ahmed Sultan Bin Sulayem|Ahmed Bin Sulayem]] is the Executive Chairman of DMCC. <ref>{{Cite web|url=https://gulfnews.com/business/markets/dmcc-appoints-ahmad-bin-sulayem-as-ceo-1.61707626|title=DMCC appoints Ahmad Bin Sulayem as CEO|website=gulfnews.com|language=en|access-date=2019-02-06}}</ref> == DMCC == DMCC Free Zone is the largest free zone in the UAE, with more than 15,000 registered members as of 2018.<ref>{{Cite news|url=https://www.zawya.com/mena/en/story/DMCC_signs_UN_womens_empowerment_principles_advancing_gender_equality-ZAWYA20180307114551/|title=DMCC signs UN women's empowerment principles advancing gender equality|last=|first=|date=|work=|access-date=2018-10-09|language=en-US}}</ref><ref>{{Cite news|url=http://www.thenational.ae/business/industry-insights/markets/dmcc-becomes-uaes-largest-free-zone-as-commodities-trading-booms|title=The National - The Middle East. Explained|work=The National|access-date=2018-05-28|language=en}}</ref> In 2018, DMCC was awarded number one global free zone for a fourth consecutive year by the [[Financial Times]] [[FDi magazine]].<ref name=":0">{{Cite news|url=https://www.arabianbusiness.com/politics-economics/380763-dubais-dmcc-named-the-worlds-top-free-zone-for-third-year|title=Dubai's DMCC named the world's top free zone for third year|last=|first=|date=|work=ArabianBusiness.com|access-date=2018-10-09|language=en}}</ref><ref name=":1">{{Cite web|url=https://www.fdiintelligence.com/Rankings/fDi-s-Global-Free-Zones-of-the-Year-2018-the-winners|title=fDi’s Global Free Zones of the Year 2018 – the winners|last=Intelligence|first=fDi|website=www.fdiintelligence.com|language=en-GB|access-date=2018-10-11}}</ref> The 200-hectare mixed-use free zone is grouped into clusters each comprising three tower blocks around three large lakes and a central park.<ref>{{Cite news|url=http://www.emirates247.com/news/emirates/dubai-residents-flock-to-jlt-s-newly-opened-park-2014-01-16-1.534885|title=Dubai residents flock to JLT's newly-opened park|last=Leijen|first=Majorie van|date=2014-01-16|work=Emirates 24{{!}}7|access-date=2018-05-28|language=en-GB}}</ref> DMCC recently launched the Middle East's first Google for Entrepreneurs Global Tech Hub with [[AstroLabs]] Dubai. The Google for Entrepreneurs Global Tech Hub features an advanced mobile device development lab, co-designed with Google for Entrepreneurs, to enable Startups to build apps for the highest smartphone penetration markets globally.<ref>{{Cite news|url=http://www.thenational.ae/business/technology/dmcc-astrolabs-and-google-team-up-for-tech-hub-launch|title=DMCC, AstroLabs and Google team up for tech hub launch|work=The National|access-date=2018-05-28|language=en}}</ref> There are 68 towers and the 200-hectare development currently comprises approximately 180,000 sq/m of commercial, residential and retail space.<ref>{{Cite news|url=http://www.thenational.ae/business/economy/dmcc-head-proud-to-be-on-track-with-e-government-project|title=DMCC head proud to be on track with e-government project|work=The National|access-date=2018-05-28|language=en}}</ref> == Commodity services == [[File:Aerial View of Jumeirah Lakes Towers.jpg|thumb|Aerial View of [[JLT Free Zone|Jumeirah Lake Towers (JLT)]]|alt=]] DMCC supports commodity trading across certain commodity groups through purpose-built infrastructure including the Dubai Diamond Exchange (DDE) and Dubai Pearl Exchanges (DPE), DMCC Tradeflow and the Dubai Good Delivery Standard (DGD) for Gold. <ref>{{Cite web|url=http://www.idexonline.com/FullArticle?Id=43919|title=DMCC’s Dubai Diamond Exchange Announces New Board Of Directors|website=www.idexonline.com|access-date=2019-02-06}}</ref> <ref>{{Cite web|url=http://www.idexonline.com/FullArticle?Id=27312|title=DMCC launches Dubai Pearl Exchange|website=www.idexonline.com|access-date=2019-02-06}}</ref> The four main commodity groups are: '''Gold:''' DMCC has integrated the refining, manufacturing and trading of gold and precious metals through a variety of Dubai-based services (including Dubai Good Delivery (DGD), Dubai Gold Advisory Group, DMCC Vault), and products (including the Visions of Dubai commemorative gold coin and the UAE gold bullion coin.<ref>{{Cite news|url=http://gulfnews.com/business/general/uae-s-first-gold-coin-to-go-on-sale-by-end-of-this-month-1.989238|title=UAE's first gold coin to go on sale by end of this month|last=Reporter|first=Cleofe Maceda, Senior|date=2012-03-03|work=GulfNews|access-date=2018-05-28}}</ref><ref>{{Cite news|url=http://gulfnews.com/business/your-money/uae-s-first-gold-coin-a-good-option-expert-says-1.995531|title=UAE's first gold coin a good option, expert says|last=Reporter|first=Cleofe Maceda, Senior|date=2012-03-17|work=GulfNews|access-date=2018-05-28}}</ref> '''Diamonds:''' The Dubai Diamond Exchange (DDE) was established in 2004 to facilitate the development of the diamond and coloured gems market.<ref>{{Cite web|url=http://www.dmcc.ae/jltauthority/diamond/news/news-details/236/|title=DMCC Blog|website=DMCC|language=en|access-date=2018-05-28}}</ref> 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.<ref>{{Cite news|url=https://gulfnews.com/business/economy/vat/vat-imperils-dubai-s-diamond-trade-dde-chairman-warns-1.2106784|title=VAT imperils Dubai’s diamond trade, DDE chairman warns|last=Reporter|first=Andrew Staples, Chief Business|date=2017-10-16|work=GulfNews|access-date=2018-10-09}}</ref> '''Pearls:''' The Dubai Pearl Exchange (DPE) provides facilities for traders in pearls, and services include sales rooms, customs duty facilitation, gem analysis centre, vaults, market information and dedicated events like the World Pearl Forum. In early 2011, DPE held the first pearl auctions outside of the Far East.<ref>{{Cite web|url=http://www.dmcc.ae/jltauthority/pearl/dubai-pearl-tenders/|title=Dubai Multi Commodities Centre Events|website=DMCC|language=en|access-date=2018-05-28}}</ref> '''Tea:''' The DMCC Tea Centre is a 24,000 sq/m facility located in Jebel Ali Free Zone(JAFZA). It has a business centre, temperature controlled storage, blending solutions, [[Packaging and labeling|packaging]], professional advisory and tea tasting services for international tea producers and buyers.<ref>{{cite web |url=http://www.dmcc.ae/jltauthority/tea/dubai-tea-trading-centre/ |title=Archived copy |accessdate=2011-08-17 |deadurl=yes |archiveurl=https://web.archive.org/web/20110711154915/http://www.dmcc.ae/jltauthority/tea/dubai-tea-trading-centre/ |archivedate=2011-07-11 |df= }}</ref> '''Coffee''': In November 2018, the dedicated 7,500 sq/m DMCC Coffee Centre, located next to the DMCC Tea Centre in Jebel Ali Free Zone (JAFZA), will officially open.<ref>{{Cite news|url=https://www.zawya.com/mena/en/story/Dubais_DMCC_to_launch_coffee_centre_in_November-TR20181008nL8N1WO38GX1/|title=Dubai's DMCC to launch coffee centre in November|access-date=2018-10-11|language=en-US}}</ref> == Financial services == DMCC offers investors financial products and has formed various strategic joint ventures to achieve this. These include: '''Dubai Commodity Asset Management (DCAM)''': Established to develop and seed commodity-linked investment products for distribution in the UAE and other markets. <ref>{{Cite web|url=https://www.dmcc.ae/gateway-to-trade/financial-services/dsam|title=Dubai Shariah Asset Management (DSAM) Shariah-compliant commodity-focused investments|website=DMCC|language=en|access-date=2019-02-06}}</ref> '''Dubai Shariah Asset Management (DSAM):''' A joint venture between DCAM and Shariah Capital Inc. (‘Shariah Capital’), a US-based Shariah-compliant financial adviser and consultant. The DSAM Kauthar Commodity Fund comprises four single strategy commodity–based funds that invest exclusively in Shariah-compliant [[long/short equity]] hedge funds. The four strategies are: The DSAM Kauthar Gold Fund; the DSAM Kauthar Energy Fund; the DSAM Kauthar Natural Resources Fund and; the DSAM Kauthar Global Resources & Mining Fund. '''DMCC Tradeflow:''' An electronic system that brings together all parties involved in inventory based financing. Through the platform, owners of goods stored in rated warehouses in the UAE can request warehouse keepers to issue "Tradeflow Warrants" which represent the ownership of their goods. These warrants can be used by the owners to pledge beneficial ownership or transfer title of the stored goods to financiers as collateral in return for working capital.<ref>{{Cite news|url=https://www.reuters.com/article/2012/02/14/idUSL5E8DD62R20120214|title=Dubai launches commodity finance, storage system|last=Editorial|first=Reuters|work=U.S.|access-date=2018-05-28|language=en-US}}</ref> '''The Dubai Gold & Commodities Exchange (DGCX)''' Established in 2005, is the region's leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the world, offering futures and options contracts covering the precious metals, energy, equities and currency sectors.<ref>{{Cite news|url=http://www.cpifinancial.net/news/post/34960/dgcx-attracts-wider-regional-participation-in-february-2016|title=DGCX attracts wider regional participation in February 2016|last=Financial.net|first=CPI|work=CPI Financial|access-date=2018-05-28|language=en}}</ref> == Property == DMCC, [for which Jumeirah Lakes Towers (JLT) (Arabic: أبراج بحيرات جميرا) is the physical address], is a 200-hectare, mixed-use master development facilitating both business and community living.<ref>{{Cite news|url=http://gulfnews.com/business/features/giving-business-its-best-chance-1.810181|title=Giving business its best chance|last=Reporter|first=Aya Lowe, Staff|date=2011-05-20|work=GulfNews|access-date=2018-05-28}}</ref> Its 68 towers offer residential, office and retail property for freehold and leasing. [[Almas Tower]], the headquarters of DMCC, was completed in mid-2008, is the world's 31st tallest structure - and home to DMCC and the Dubai Diamond Exchange (DDE) and Dubai Pearl Exchange (DPE). The 68-floor building also houses around a thousand diamond companies, diamond vaults, a diamond trading floor, DMCC's corporate offices and the Almas Conference Centre (ACC).<ref>{{Cite news|url=http://www.thenational.ae/news/uae-news/dubai-tower-that-shines-as-bright-as-a-diamond|title=Dubai tower that shines as bright as a diamond|work=The National|access-date=2018-05-28|language=en}}</ref> DMCC's 2017 masterplan for the [https://www.uptowndubai.ae/ Uptown Dubai] district includes more than 10 million square feet of commercial and residential space, more than 200 retail and [[Foodservice|F&B]] outlets, alongside 3000 residences, a central entertainment plaza and luxury hotels.<ref>{{Cite news|url=http://meconstructionnews.com/25062/dmcc-begins-work-on-uptown-dubai-district|title=DMCC begins work on Uptown Dubai district {{!}} Middle East Construction News|date=2017-09-26|work=Middle East Construction News|access-date=2018-08-07|language=en-US}}</ref> ==Awards== *[[Global Islamic Finance Awards|Global Islamic Finance Award]] for Best Supporting Institution, 2014.<ref>{{cite web|title=DMCC Tradeflow receives Global Islamic Finance Award for Best Supporting Institution 2014|url=http://wam.ae/en/details/1395271554213|website=wam|accessdate=15 April 2017}}</ref> * fDi Global Free Zones of the Year, 2015, 2016, 2017 and 2018.<ref>{{cite web|title=fDi Global Free Zones of the Year 2014 – Winners|url=http://www.fdiintelligence.com/Locations/fDi-Global-Free-Zones-of-the-Year-2014-Winners?ct=true|website=www.fdiintelligence.com|accessdate=April 15, 2017}}</ref><ref>{{cite web|title=fDi Global Free Zones of the Year 2015 – Winners|url=http://www.fdiintelligence.com/Locations/fDi-Global-Free-Zones-of-the-Year-2015-Winners|website=www.fdiintelligence.com|accessdate=15 April 2017}}</ref><ref name=":0" /><ref name=":1" /> * Facilitating Most Innovative Structured Transaction Award in 2007, Deal of the Year Award.<ref>{{cite web|title=DMCC Tradeflow receives logistics project of the year award {{!}} Zawya MENA Edition|url=http://www.zawya.com/story/DMCC_Tradeflow_receives_logistics_project_of_the_year_award-ZAWYA20140427094237/|website=www.zawya.com|accessdate=15 April 2017}}</ref> * 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<ref>{{cite web|title=Hedge Funds World Middle East Awards select winners from across the region|url=http://www.aps.com.sg/qws/slot/u50175/2.%20Investor%20Resources/2.4%20APS%20in%20the%20Press/2.4.1%20Articles/9-Mar-10%20-%20BI%20ME%20-%20Hedge%20Funds%20World%20Middle%20East%20Awards%20select%20winners%20from%20across%20the%20region.pdf|website=www.aps.com.sg|accessdate=15 April 2017|date=March 9, 2010}}</ref> * Best Fund-of-Funds, Failaka Islamic Fund Award, April 21, 2010.<ref>{{cite web|title=DMCC's DSAM Kauthar Commodity Fund named 'Best Fund-of-Funds' - Business Intelligence Middle East - bi-me.com - News, analysis, reports|url=http://www.bi-me.com/main.php?c=3&cg=1&t=1&id=46148|website=www.bi-me.com|accessdate=15 April 2017}}</ref> == List of JLT Towers == {| class="wikitable" |- ! 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 - [[The Bonnington Tower|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== * [[Dubai]] * [[Jumeirah Lake Towers]] * [[JLT Free Zone]] * [[Almas Tower]] * [[Armada Towers]] * [[DP World|Dubai Ports World]] * [[Dubai Marina]] * [[List of free Trade Zones in Dubai]] == References == {{Reflist}} {{coord missing|United Arab Emirates}} {{Developments in Dubai}} [[Category:Commodity markets in the United Arab Emirates]] [[Category:Finance in the United Arab Emirates]] [[Category:Free Trade Zones of the United Arab Emirates]]