{"id":111949,"date":"2026-01-26T00:00:00","date_gmt":"2026-01-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=111949"},"modified":"2026-01-26T02:57:01","modified_gmt":"2026-01-26T02:57:01","slug":"deep-pocketed-customers-and-buoyant-economy-make-uae-jewelry-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/01\/26\/deep-pocketed-customers-and-buoyant-economy-make-uae-jewelry-hub\/","title":{"rendered":"Deep-pocketed customers and buoyant economy make UAE jewelry hub"},"content":{"rendered":"

The UAE is fast becoming a global growth engine for fine jewelry. <\/strong>The New York<\/a><\/a>Times<\/a> flags Abu Dhabi and the wider GCC as standout demand markets as the US and China cool \u2014 pointing to the USD 8.8 mn sale of a 31.68-carat diamond at a recent Sotheby\u2019s auction in Abu Dhabi as a signal moment. \u201cThere\u2019s definitely a big [window] there,\u201d said Emma Paleschi, Sotheby\u2019s global head of jewels, adding the emirate is \u201cat the center of the growth we see for the coming years.\u201d Abu Dhabi\u2019s sovereign wealth fund took a minority stake in the UK-based auction house in 2024<\/a>.<\/p>\n

Zoom out:<\/strong> GCC luxury markets are forecast to grow about 6% annually to exceed USD 15 bn by 2027, according to Chalhoub Group\u2019s Mo Shadman.<\/p>\n

Why it\u2019s holding up: <\/strong>\u201cFavorable economic conditions, strong consumer confidence, and sustained investment in physical retail and tourism infrastructure, particularly in the UAE and Saudi Arabia,\u201d are underpinning demand, Shadman said, reinforced by currency stability and inflows of high-spending tourists and residents.<\/p>\n

Demand is skewing premium:<\/strong> Designers say Middle Eastern buyers are gravitating toward the very top end. Greek jeweler Nikos Koulis pointed to a \u201cpersistent desire for one-of-a-kind designs\u201d in Dubai, adding, \u201cthey\u2019re jewelry connoisseurs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

A diamond sold for USD 8.8 mn at a recent Sotheby\u2019s auction in Abu Dhabi<\/p>\n","protected":false},"author":1,"featured_media":111950,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1551],"tags":[19,7,41],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-111949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uae-in-the-news","tag-economy","tag-enterpriseam-uae","tag-uae-in-the-news","wpautop","entry"],"acf":{"mongo_id":"656ce5f2-7e8d-436b-a375-628240a542c0","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/1\/984.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Deep-pocketed customers and buoyant economy make UAE jewelry hub","related_issue":[111932],"teaser":"A diamond sold for USD 8.8 mn at a recent Sotheby\u2019s auction in Abu Dhabi"},"yoast_head":"\nDeep-pocketed customers and buoyant economy make UAE jewelry hub - 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