An Israeli diamond in Manhattan

October 12, 2009 - 12:06 PM by David · 1 Comment
Filed under: A New Reality, Business, design, General

Israel_Diamond_Exchange Living in Israel, we’re always used to some people – both native Israelis, immigrants and visitors – saying, ‘why can’t they do this like in America?’ about some particular thing that bothers them.

So, it’s especially gratifying to learn that an Israeli model for something is being adopted in the US. In this case, it’s the shining star of Ramat Gan, the towering Diamond Exchange, which is going to be copied to build a Manhattan Diamond Exchange.

According to a report in Ynet, the Internationl Gem Tower which is due to be completed in mid-2011, will house the largest diamond and jewelry center in the US, and will revolutionize the Manhattan’s diamond district.

Builders of the new project, US-based Extell Development, claim that hundreds of people in the diamond business around the world are renting old, dilapidated buildings in the New York diamond district, and are forced to deal with below par work conditions on a daily basis.

Extell additionally claimed that the existing level of security is insufficient for dealing in diamonds and jewelry. This also happens to be the reason the American company takes pride on the fact that it has planned the new complex based on the Israeli model, in which four buildings are interconnected through a system of bridges, which provide diamond dealers from around the world comprehensive and total answers for all their needs. The model has been combined into one 34-storey, 70 sq. meter (about 750 sq. feet) building

The new center is in actuality an exact copy of the model used in the Israeli Diamond Exchange, which is located in Ramat Gan, and will provide all the necessary services for the industry under one roof and will up the level of personal security provided to those working in the field. The project will cost an estimated $750 million.

“Israeli diamond dealers have grown accustomed to doing business under the mantle of increased security provided by the diamond exchange in Ramat Gan that provides quite a wide range of services,” said Extell’s Senior Vice President of Project Management, Raizy Haas. “The tower that will be built will provide the perfect response for all the needs of the diamond and jewelry dealers, including the most advanced security methods in the world.”

The head of the Israel Diamond Exchange President Avi Paz told Ynet he wasn’t surprised that the Manhattan tower is going to be based on the Israeli model: “From India, from Turkey, and from other countries, people have come to learn from us how to organize secure compounds for diamond dealers. We teach them how to provide a commercial infrastructure for the diamond dealer from a security perspective and supporting services for the diamond dealers.”

Looming like a beacon of light off the Ayalon Freeway, the Israel Diamond Exchange has always been a source of Israeli pride. Now that light has just gotten a little brighter.

Share with others