The Dubai Multi Commodities Centre (DMCC) is a strategic initiative taken by Dubai government and established in 2002 with the concept of providing physical and financial market for global commodities trade. It has nearly 12,000 registered members for both commodities and other businesses. Executive Chairman of DMCC Mr. Ahmed Bin Sulayem thinks that DMCC companies may enjoy free zone access and trading in exchange of cash, gold, diamond and large range of commodities more than any other free zone area. The DMCC company formation includes different steps which are easily guided by DMCC authorities in company formation.
Many commodity sectors including trade shipment, Information Technology recruitments, advertising, restaurants, gyms, golfing, retail stores, school and nurseries, exotic auto mobiles, luxury brands, universities etc. are the strong areas which the businesses are eyeing to undertake at the Dubai Multi Commodities Centre for better growth.
With the help of purpose building aerotropolis, the DMCC is creating international commodity center in Middle East that supports four main commodity trading groups.
- Gold: A bullion center of international gold market understands the importance of Dubai in gold trading. refining, manufacturing and trading of gold and expensive metals are flourishing businesses in Dubai and considered tremendous growth opportunities after the DMCC establishment. Dubai Good Delivery, DMCC Vault, UAE gold bullion coins, Visions of Dubai commemorative gold coin, and Dubai Gold Advisory Group are main parts of DMCC commodity services.
- Diamonds: Diamond Market Dubai is considered very secure and developing trading zone after establishment of Dubai Diamond Exchange (DDE) in 2004. This exchange is responsible to develop diamonds and facilitate other colored gems market. As per statistics in 2010, diamonds trading volume reached to 286.7 million carats which is nearly 50 percent higher than the previous year.
- Pearls: Trading of pearls and services like sales rooms, gems analysis, customs duty, vault safety, and advertising market avenues like world pearl forum are supervised by Dubai Pearl Exchange (DPE).
- Tea: Dubai tea brands are highly popular and supervised by Dubai Tea Trading Centre (DTTC). It is a 24,000 square per meter facility that offers temperature control storage, blending and packaging solutions, tea testing, and professional advisory services to local and international businesses, suppliers, buyers and producers. This facility is located near Dubai Ports (JAFZA).
The DMCC offers investors different financial services in terms of various strategic joint ventures and asset management. They include:
- Dubai Commodity Asset Management (DCAM),
- Dubai Shariah Asset Management (DSAM),
- DMCC Tradeflow, and
- Dubai Gold & Commodities Exchange (DGCX)
For further details about the DMCC company formation and its benefits, visit website of any corporate house in the UAE.