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Sharjah Show set to jumpstart jewellery sales

Jewellery lovers have a lot to look forward to as the region’s most anticipated jewellery event got under way at Expo Centre Sharjah on Tuesday (Oct. 6).

 

The 39th MidEast Watch & Jewellery Show, which is seen as a grand precursor to the landmark 40th edition that will be held in the first quarter of next year, was opened by H. H. Sheikh Abdullah Bin Salim Bin Sultan Al Qassimi, Deputy Ruler of Sharjah.

 

The show is being held under the patronage of His Highness Dr. Sheikh Sultan Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Sharjah, and will run until October 10.

 

The opening ceremony was attended by Mr. Abdullah bin Mohammed Al Owais, Chairman, Sharjah Chamber of Commerce & Industry; Mr. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah; other officials, dignitaries and industry representatives.

 

“True to its billing, the show is 50 per cent bigger this time, featuring 500 exhibitors across 30,000 sq metres of exhibition space at all the six halls at Expo Centre Sharjah. We are also playing host to the Najmat Taiba or Star of Taiba, the world’s largest gold ring, apart from offering an opportunity to take a selfie with the ring,” said Mr. Abdullah Al Owais.

 

This is the first time the Najmat Taiba has come to the Northern Emirates and the show offers visitors an exclusive opportunity to admire the beauty and craftsmanship of the 64 kg gold ring that is studded with 5.17 kg of precious stones.

 

Exhibitors say that the icing on the cake has come in the form of relatively low and less volatile gold prices, which had swung between a six-year low of US$ 1,080 an ounce and a high in August of US$ 1,170 but is trading at around US$ 1,140 now.

 

They are also expecting a surge in sales, given that demand for jewellery was subdued during the summer months. According to the World Gold Council, in the UAE, demand for jewellery slid by 22 per cent in the second quarter of the year, following reduced spending by tourists and Ramadan falling in June.

 

“The autumn edition of MidEast Watch & Jewellery Show has always been seen as platform to kick-start a season of sales for jewellers. The market is conducive for a rise in demand for gold and diamond jewellery, given the low gold prices, and the beginning of the festival season for several expatriate communities,” said Mr. Midfa.

 

The five-day event is showcasing gold & diamond jewellery, diamonds, precious stones, pearls and watches from leading jewellers from across the world, offering special deals on high-value purchases, exclusive National Pavilions from India, Hong Kong, Thailand, Singapore & Italy, and customisation opportunities, among other.

 

The daily raffle draw continues to be a star attraction, giving shoppers a chance to qualify for the draw on every purchase of Dhs 500.

 

The show is open to visitors from 12 noon to 10 pm daily, and from 4pm to 10pm on Friday (October 9). Exclusive timings for ladies are on Wednesday from 12 noon to 4pm. Admission is free for all.

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