Five-day Jewellery Show opens in Sharjah

The show was opened by H. E. Sheikh Sultan Bin Ahmed Bin Sultan Al Qassimi,Chairman,Sharjah Commerce and Tourism Development Authorities. It will run until April 11.

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. Ahmed Mohammed Al Midfa, Chairman of the Sharjah Chamber of Commerce & Industry (SCCI), Mr.Saif Mohammed Al Midfa - Director-General of Expo Centre Sharjah, Mr.Fasahat Ali Khan, Adviser to the Chairman and Board of Directors of Expo Centre Sharjah, officials of various government departments, and members of trade associations.

"Gold is the metal with broadest investment options now. The surge in gold demand and increase in sales figures point to this fact," said Mr. Ahmed Mohammed Al Midfa, after the opening ceremony.

"All forms of jewellery are flying off the shelves. People are increasingly seeing it as an asset. As a physical asset, gold does not face the risk of exposure to financial markets. People are looking at gold's ability to preserve wealth," said Mr. Ahmed Mohammed Al Midfa.

The World Gold Council has announced that UAE gold jewellery sales have increased by 17% in 2008, to cross Dh13.7bn compared to Dhs11.4bn in 2007. Overall, investment demand grew 27% in the UAE last year.

While jewellery accounted for 90% of total consumer demand, net retail investment witnessed strong growth of 38% in the last quarter of 2008 compared to the same period of the previous year.

"The MidEast Watch & Jewellery Show is set to buck the slowdown trends and register good visitor turnout and sales figures. It gives investors as well as the common man another opportunity and another reason to invest more in gold," said Mr. Ahmed Mohammed Al Midfa.

The 26th MidEast Watch and Jewellery Show has registered a nearly 13% rise in the number of exhibitors, with 450 master jewellers and craftsmen taking part in the show.

The show is featuring displays of 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 at 16,000 square metres of exhibition space.

"The visitors to the show will be in for a treat this time. It is going to rain gifts and prizes at the show. While the Hong Kong Pavilion is giving away free gifts, lucky shoppers can win fabulous prizes on a minimum purchase every day," said Mr Saif Mohammed Al Midfa.

Daily prizes to be won in raffle draws include two diamond rings, two chains with diamond pendants and a grand prize of one whole diamond set (a necklace, earrings and a ring).

The Hong Pavilion is giving away 166 pieces of Tiger Eye Stone Rosaries (on April 7, 9 & 10, from 4pm to 10pm), and 250 pieces of Fresh Water Pearl Bracelets will be given away on April 8 & 11 during exclusive ladies timings, from 11am to 2pm.

Hong Kong will have the biggest number of participants in its country pavilion this time. About 57 exhibitors from the country will display latest designs in gold, diamond and precious stones at the pavilion.Other countries that will have their pavilions include India, Italy, Thailand, Lebanon and Singapore.

The Indian pavilion will feature 26 exhibitors, the Italian pavilion 24, Lebanon 22 and Singapore 15.

"Visitors can expect the season's most exquisite and intricately crafted jewellery creations, both traditional and contemporary, designer works and rare pieces at these pavilions," said Mr. Fasahat Ali Khan.

"The show's popularity and good track record will help attract serious visitors from the highly affluent segments of the society to people who are planning weddings, other important functions, and the common man who value gold for its plain charm," Mr Khan added.

The general visiting hours of show will be from 11am to 10pm on April 7, and from 4pm to 10pm on April 8, 9, 10 and 11.

The exhibition is being organised by Expo Centre Sharjah with the support of the World Gold Council and the Sharjah Chamber of Commerce and Industry.