25th edition of Watch and Jewellery show begins at expo centre Sharjah 25TH EDITION OF WATCH AND JEWELLERY SHOW BEGINS AT EXPO CENTRE SHARJAH THOUSANDS OF EXQUISITE DESIGNS IN GOLD AND DIAMOND JEWELLERY GO ON DISPLAY The MidEast Watch and Jewellery show is celebrating its silver jubilee as its 25th edition got under way at Expo Centre Sharjah. The show was inaugurated by His Excellency Sheikh Essam Bin Saqr Al Qasimi,Chairman of the Sharjah Ruler's Office, and will run until October 12. The biannual exhibition is held under the patronage of His Highness Dr Sheikh Sultan Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Sharjah, and is the most popular watch and jewellery event in the region. The opening ceremony was attended by Mr. Mr. Mohammed Sultan Bin Houwaden, First Vice Chairman of the Sharjah Chamber of Commerce & Industry (SCCI),SCCI Board Members, Mr.Fasahat Ali Khan, Adviser to the Chairman and Board of Directors 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 now the longest running and most popular consumer fair in the entire region," said Mr Saif Mohammed Al Midfa,Director General, Expo Centre Sharjah, after the opening function. "The show was launched in 1993. From a handful of exhibitors and an exhibition area of a few hundred square metres, it has grown to host more than 350 exhibitors at an area of 12,000 square metres in its most recent show in April 2008," said Mr Midfa. For its 25th edition, the show has registered further growth. "The current show is featuring nearly 450 exhibitors and master jewellers. The total exhibition area being occupied is 16,000 square metres. The country pavilions have more exhibitors, and the number of new participants has increased considerably," said Mr Midfa. The show will display loose pearls, diamonds, precious stones, gold and diamond jewellery, diamond and pearl sets, crystals, watches, jewellery displays, and different kinds of tools used in the trade. Exhibitors are coming from Belgium, Brazil, Japan, Turkey, Lebanon, Qatar, Bahrain, Indonesia, Saudi Arabia, Sri Lanka, Malaysia, the US and the UAE. Several new participants have come from countries such as India, Indonesia, Italy, Brazil, Japan, Malaysia, Saudi Arabia, Singapore, Thailand, Turkey and the UAE The exhibition is set to achieve good sales figures on the back of high demand for the yellow metal and precious stones in the country and the region. As per World Gold Council figures, gold sales in the UAE increased from Dh3 billion in the second quarter of 2007 to Dh3.6 billion in the same period in 2008, registering a 20 per cent rise in sales. In Dubai, gold trade through the emirate reached $13.07 billion in the first half of 2008, an increase of 48 per cent from $8.84 billion during the same period in 2007. Dubai's total trade of rough diamonds increased by 36 per cent to reach $3.03 billion at the end of the first six months of 2008, according to figures from the Dubai Diamond Exchange. Dubai's annual trade in gems and coloured stones is valued at Dh70 million, as per Dubai Multi Commodities Centre statistics. Diamond sales are also on the rise, with the Gulf being the fourth largest market in the world. Industry sources say demand for diamond jewellery has been increasing by more than 40 per cent in the recent past. "Gold successfully weathered the volatility seen in its prices recently. It retained its allure during global financial turbulence and is now considered by many as a safe investment option," said Mr Fasahat Ali Khan. Mr Khan was of the opinion that the market conditions are ripe for investors as well as consumers to buy into gold in a big way. "When gold prices were at its peak, people were buying more in the belief that prices might rise further. Predictions of a price of above $2,000 for gold in the near future in part triggered this," Mr Khan said. Jewellery collections from all over the world in their best and finest designs will vie for the attention of visitors from the region and beyond at the show. While thousands of exquisite designs will be on display and sale, visitors can also admire and own hundreds of new designs and signature works. A major attraction at the show will be country pavilions. The biggest pavilion at the show will be Hong Kong with 72 exhibitors. The second biggest is the Indian pavilion with 30 exhibitors, and the third Singapore with 18. These pavilions will bring traditional as well as modern designs and collections to the show. Jewellery designs and works that are indigenous to several regions of these countries and are rare and not easily available in regional markets will find their pride of place at these pavilions. Jewellery buffs will also have an exclusive opportunity to catch a glimpse of a unique ring that resembles the iconic Burj Al Arab. Being displayed at the Italian pavilion, the ring is created by Leonardo Chilleri, owner and designer of Noi Gioielli. It is handmade and reproduces the Burj Al Arab in 166 colour G VS1 diamonds 3.22 carats, one natural acquamarine 26.70 carats and 18 carat white gold. Special attractions at the show include fabulous prizes. On every purchase of Dhs500, visitors will have a chance to qualify for a daily raffle draw, where gifts will be presented. The Hong Kong Pavilion will also give away gifts to visitors. The MidEast Watch and Jewellery show will be open from 11am to 10pm on October 8, 9, 11 and 12.On Friday, October 10, it will be open from 4pm to 10pm. Ladies will have free entry and exclusive timings on October 9 and 12 from 11am to 2pm. The exhibition is organised by Expo Centre Sharjah with the support of the World Gold Council and the Sharjah Chamber of Commerce and Industry.