Twenty-third MidEast Watch and Jewellery Show inaugurated at Expo Centre Sharjah; Show is spread over an area of 16,000 sq. m. and is hosting more than 350 master jewellers; Major launches planned during the event The 23rd edition of the MidEast Watch and Jewellery Show, the region's longest running watch and jewellery event, was inaugurated at Expo Centre Sharjah on Wednesday, October 24, 2007, by H.E. Sheikh Abdullah Bin Salem Al Qassimi, Chairman, Diwan Al Amiri - Sharjah. The inauguration ceremony was attended by Mr. Ahmed Mohammed Al Midfa, Chairman of the Sharjah Chamber of Commerce & Industry (SCCI), Mr. Fasahat Ali Khan, Advisor to the Chairman and Board of Directors of Expo Centre Sharjah, Mr. Saif Al Midfa - Director General of Expo Centre Sharjah, officials of various government departments, and members of the diplomatic corps and trade associations. The MidEast Watch and Jewellery Show is a biannual event and is held under the patronage of His Highness Dr Sheikh Sultan Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Sharjah. It is organized by Expo Centre Sharjah with the support of the World Gold Council (WGC) and the Sharjah Chamber of Commerce and Industry (SCCI). The current edition of the MidEast Watch and Jewellery Show is occupying a total exhibition area of 16,000 sq. m., an increase of 25 % over the last edition, and hosting more than 350 master jewellers from Italy, Hong Kong, Thailand, Singapore, India, Turkey, Lebanon, Qatar, Bahrain, Kuwait, Saudi Arabia, Sri Lanka, Malaysia, and the UAE. Displays include diamonds, precious stones, loose pearls, gold and diamond jewellery, diamond and pearl sets, and watches. "The MidEast Watch and Jewellery Show has experienced phenomenal growth," said Mr. Ahmed Mohammed Al Midfa after the inauguration ceremony. "The current edition of the Show is bigger, both in terms of number of exhibitors and occupied exhibition, compared to the last edition. The MidEast Watch and Jewellery Show has been witnessing this kind of steep growth edition after edition right from its inception. This trend is a clear reflection of the affinity that people in the UAE in particular and the region in general have towards gold and diamond jewellery," he added. According to the World Gold Council, despite a 17 percent hike in gold price, the first quarter of 2007 witnessed gold sales in the UAE amounting to Dh2.7 billion, a 23 percent increase from Dh2.2 billion in the same period of 2006. Gold consumption (jewellery and investment) in terms of tonnage in the UAE increased 6 percent to 29.7 in the first quarter of 2007 compared to the same period of 2006. Overall demand in the Middle East region (Saudi Arabia, UAE, other Gulf States and Egypt) was 8 percent higher in the first quarter than a year earlier in terms of tonnage. With regard to diamonds, the Gulf is the fourth largest market in the world. It is estimated that Arab nationals spend close to Dh7.3 billion on diamonds every year. According to diamond industry sources in the region, the diamond jewellery market in the Gulf region increased 47 per cent in the past four years. The ongoing MidEast Watch and Jewellery Show is featuring a unique blend of both traditional and contemporary gold and diamond jewellery. Damas, Al Anwar, Amouaj, Al Dahaam, Salem al Shuaibi, Mohammed Rasoul Khoury and Mahalati are among the major exhibitors in the event. Jewellers who are participating in the Show for the first time include India-based G.V. Sons, Phorum Jewels, Beauty Gems & Jewellery, Bamalwa Jewellery and Goenka Exports, Italy-based Red Velvet, K.V srl, Maggio Teresa and Damianacos Damiano, Lebanon-based Paul Anourian and Khabbaz, Saudi Arabia-based Lazurde Jewellery, Singapore-based Asian Carat and Kinger Jewellery, Thailand-based YCP Jewellry, Evershine Jewels, CHC Diamonds, and D.Garo Jewellery, Malaysia-based Triangle Jewellery, and UAE-based Aratry Jewels, Wafi Jewels, Mohammed Rasool Khoury, and Prima Gold among others. Besides individual exhibitors, national pavilions from Italy, Hong Kong, Thailand, Singapore, and India, are also having an imposing presence in the show. Of the five pavilions participating in the five-day grand event, the Hong Kong pavilion is the biggest with 57 exhibitors. Hosted under the umbrella of the Hong Kong Jewelry Manufacturers' Association, it is showcasing a wide range of affordable gold and diamond jewellery and gem collections. The Indian and Italian pavilions with 23 exhibitors and 12 exhibitors respectively, are also expected to be major head turners. Their displays include some of the season's most exquisite and intricately crafted jewellery creations. As in the last edition, the pavilions from Thailand and Singapore will continue to be a major attraction for those on the look out for precious stones, gems, and medium ranged gold and diamond jewellery. "The MidEast Watch and Jewellery Show has so far received overwhelming response from both jewellers and jewellery connoisseurs," said Mr. Fasahat Ali Khan, Advisor to the Chairman and Board of Directors of Expo Centre Sharjah. "Whereas jewellers from across the globe consider it an ideal platform for spreading their wings across the Middle East, for jewellery connoisseurs in region, the event is a perfect and credible source for genuine and high quality exquisitely crafted traditional and contemporary jewellery creations. The success of the MidEast Watch and Jewellery Show is a manifestation of Expo Centre Sharjah's decades of experience in organizing B2C events," he added. The MidEast Watch and Jewellery Show has for long been 'the most preferred' platform for launching new collections in the region. This edition too, jewellery connoisseurs will be not be disappointed and can expect to be treated to a fascinating variety of gold and diamond jewellery and watches from the autumn collection. UAE-based Salem Al Shuaibi Jewellery will be introducing an exclusive range of diamond and precious jewellery sets and watches during the show. The most highly priced diamond and precious jewellery set that will be launched by it is priced at Dh. 36,000,000. The most expensive watch that Salem Al Shuaibi will launch during the show is priced at Dh. 3,500,000. The jeweller's total value of display at the current MidEast Watch and Jewellery Show exceeds Dh. 500,000,000. Other notable launches that will take place during the 23rd MidEast Watch and Jewellery Show are that of Tom and Jerry and Pink Panther brands of children's watches by the UAE-based Prima Group. "The MidEast Watch and Jewellery Show has clearly established itself as the region's launch pad for the latest jewellery and watch collections," said Mr. Saif Al Midfa, Director General of Expo Centre Sharjah. "Given that the show is one of the region's most widely visited watch and jewellery events, a very significant number of jewellers from across the globe are keen to utilize it as a channel for unveiling their newest designs and creations in the Middle East. It is therefore not surprising that over a period of time, the show has become a perfect platform for jewellery connoisseurs for not only keeping pace with the latest trends and designs but also for acquiring the most exclusive collections of exquisite jewellery. Visitors to the current edition of the MidEast Watch and Jewellery will be treated to a magnificent display of extremely unique, captivating, and vibrant jewellery and watch collections," he added. Mr. Saif Al Midfa further said that considering the unique profile, the MidEast Watch and Jewellery Show would attract visitors from the Middle East region as well as the Indian sub-continent, North Africa region, and CIS countries. With regard to visitor turnout, an increase of 15 - 20 % over the last edition is expected, he said. Besides offering the most vibrant and captivating range of traditional and contemporary jewellery creations and exclusive range of watches, the MidEast Watch and Jewellery Show holds another major attraction. All visitors are eligible to win gold bars and other fabulous prizes through the raffle draw that will be held on the last day. The MidEast Watch and Jewellery Show is open till October 28th to both trade and public daily from 10 am to 2 pm and 4 pm to 10 pm except Friday. It will be open exclusively to ladies on October 25 and 27 between 10 am and 2 pm.