MidEast Watch and Jewellery Show 23rd edition to be held at Expo Centre Sharjah from Oct. 24 -28

The MidEast Watch and Jewellery Show, which will be in its twenty-third edition in the coming season, is a biannual event and held under the patronage of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah.

The Show is the Middle East's longest running and most established watch and jewellery exhibition.

The coming edition of the Show will witness a 25%increase in occupied exhibition space compared to the previous edition, translating in to total exhibition area of four halls of Expo Centre Sharjah, each measuring 4,000 sq. m.

Besides an increase in exhibition space, the show will also see a significant rise in the number of exhibitors. A majority of the participating jewellers at the show will be from Italy, Hong Kong, Thailand, Singapore, India, Turkey, Lebanon, Qatar, Bahrain, Kuwait, Saudi Arabia, Sri lanka, Malaysia, and the UAE.

Among the major exhibitors at the show will be Damas, Al Anwar, Al Dahaam, Lazurde, Salem al Shuaibi, Mohammad Rasoul Khoury and Mahalati.

Displays will include diamonds, precious stones, loose pearls, gold and diamond jewellery, diamond and pearl sets, and watches.

The twenty-third edition of MidEast Watch and Jewellery Show will also be hosting national pavilions from Italy, Hong Kong, Thailand, Singapore, and India.

"The consistent growth in the size of the MidEast Watch and Jewellery Show with every edition in terms of occupied exhibition space, number of exhibitors, and visitor turnout, clearly indicates that the event is the Middle East's most effective watch and jewellery platform for reaching out to the region's large affluent population," said Mr. Saif Al Midfa, Director General of Expo Centre Sharjah.

"Even after so many editions, the MidEast Watch and Jewellery Show continues to sustain its extremely high exhibitor retention rate. This, to a large extent, may be attributed to the popularity that this mega event enjoys in the Middle East. It also explains why such a large number of jewellers prefer to utilize this exhibition as a launching pad for their latest seasonal collections. This time too, visitors to the show will be the first in the region to be treated to a fascinating range of gold and diamond jewellery collections for the autumn season," he added.

The MidEast Watch and Jewellery Show has an exhibitor retention rate of 95%, one of the highest in the region.

Mr. Saif Al Midfa further said: "The success of the MidEast Watch and Jewellery Show is a demonstration of the affinity of the regional population towards gold and diamond jewellery. A close look at the recent consumption patterns for gold and diamond in the Middle East, particularly in the GCC States, indicates that prices have had little impact on their demand. This could be due to several factors including booming regional economies, sustained promotion, better and increased product offerings, and significant rise in the number of tourists to the region."

According to the World Gold Council, despite a 17% hike in gold price, the first quarter of 2007 witnessed gold sales in the UAE amounting to Dhs2.7bn, a 23% increase from Dhs2.2bn in the same period of 2006.

Gold consumption (jewellery and investment) in terms of tonnage in the UAE increased 6% 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 Dhs7.3 bn 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 coming edition of the MidEast Watch and Jewellery, owing to its exclusive and unique profile, is expected to attract jewellery connoisseurs from across the Middle East. The last edition of the show attracted 39,604 visitors.

The MidEast Watch and Jewellery Show is an initiative of Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) and the World Gold Council (WGC).