JEDDAH, 18 May — Makkah Governor Prince Abdul Majeed inaugurated an exhibition of “jewels and rare stones” at the Sheraton Hotel here on Wednesday night.
More than 185 pieces of jewelry are on display at the five-day event, said Hisham Al-Ameeri, director general of the Medad Company, which organized the show in collaboration with the US firm Cimabue. The American company owns the precious stones.
The greatest attraction of the exhibition is the world’s third largest diamond weighing 103 carats, Al-Ameeri said, adding that the diamond once belonged to an Indian royal family. He expected the show to attract gem and antique collectors around the Kingdom.
Cimabue has plans to open a permanent showroom for rare gems in the Kingdom as the interest in the local market has been growing steadily.
Max Pincione, director general of Cimabue, said Saudi Arabia is the largest market in the Middle East for gems while $900 million worth of precious stones were traded last year internationally.
