Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
August 2, 2010
I read that currently a new diamond trade center is being built in Manhattan. When is the building supposed to be completed, what would be its functions within the diamond industry and how many workers are suppose to occupy it?
August 2, 2010
The building of this new center is apparently developing very well, with current forecast of being open for business from mid-end 2011. This diamond center is located in Manhattan's famous diamond quarter and would affect significantly the diamond business in that area. This diamond trade center is actually planned to be quite similar to the famous diamond center in Tel Aviv, Israel. The project costs about $750 according to several assumptions.
According to Extell Developments, the company which plans the diamond center, the new building will help and improve the business conditions of many of the diamond traders and retailers in the area, the diamond district, which currently lies between the 5th and 6th boulevard on 47th street, in working conditions which are often very problematic. The new diamond center is supposed to provide all the services diamond traders and dealers need, with the security and proffesionalism level which couldn't be obtained in the street stores.
How many dealers would rent offices in the new building, will the new building actually replace the Manhattan brick & mortar stores or only be a location for conducting big transactions and examining each diamond thoroughly, and will the new construction improve the economical state of the global diamond market or have an impact only on the more local level - These are all questions which remain open, though two years from now there'll be a lot of new action going on in Manhattan's diamond district - That's a fact.
