Jewellery sales ‘to surge’ as Sharjah show opens
October 06 2015 09:28 PM
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The 39th MidEast Watch & Jewellery Show began at Expo Centre Sharjah, UAE, yesterday.
The show, seen as a precursor to the landmark 40th edition that will be held in the first quarter of next year, was opened by Sheikh Abdullah bin Salim bin Sultan al-Qassimi, deputy ruler of Sharjah.
The event is being held under the patronage of Dr Sheikh Sultan bin Mohamed al-Qassimi, Supreme Council member and ruler of Sharjah, and will run until October 10.
The opening ceremony was attended by Abdullah bin Mohamed al-Owais, chairman of Sharjah Chamber of Commerce & Industry; Saif Mohamed al-Midfa, CEO of Expo Centre Sharjah; and other officials, dignitaries and industry representatives.
“True to its billing, the show is 50% bigger this time, featuring 500 exhibitors across 30,000sqm of exhibition space at all six halls of 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 al-Owais.
Exhibitors say 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 $1,080 an ounce and a high in August of $1,170, but is trading at around $1,140 now.
They are also expecting a surge in sales, given that demand for jewellery was subdued during the summer months.
“The autumn edition of the 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 al-Midfa.
The five-day event is showcasing gold and diamond jewellery, diamonds, precious stones, pearls and watches from leading jewellers, exclusive national pavilions from India, Hong Kong, Thailand, Singapore and Italy, and customisation opportunities, among others.
A daily raffle gives shoppers a chance to qualify for the draw on every purchase of AED500.

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