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 of DMCC.
History
DMCC Free Zone is the largest free zone in the UAE, with more than 15,000 registered members as of 2018. In 2018, DMCC was named number one global free zone for a fourth consecutive year by the Financial TimesFDi magazine. DMCC recently launched the Middle East's first Google for Entrepreneurs Global Tech Hub with AstroLabsDubai. DMCC supports commodity trading through organizations such as the Dubai Diamond Exchange, the Dubai Pearl Exchanges, DMCC Tradeflow, the Dubai Good Delivery Standard for Gold, the DMCC Tea Centre, and the DMCC Coffee Centre. The Dubai Diamond Exchange 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 in trade in 2002 to $26 billion in 2016. The Dubai Pearl Exchange 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, Dubai Shariah Asset Management, DMCC Tradeflow, and the Dubai Gold & Commodities Exchange.
Awards
Global Islamic Finance Award for Best Supporting Institution, 2014.
fDi Global Free Zones of the Year, 2015, 2016, 2017 and 2018.
Facilitating Most Innovative Structured Transaction Award in 2007, Deal of the Year Award.
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
Best Fund-of-Funds, Failaka Islamic Fund Award, April 21, 2010.
Property
DMCC, for which Jumeirah Lakes Towers 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. 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.
