Established in 2002, Dubai Multi Commodities Centre (DMCC) is a free trade zone for gold, diamonds, precious metals, and other commodities housing more than 1,300 registered companies all benefiting from 100% ownership rights, 50-year tax holiday on personal and income taxes.

DMCC's 21.5 million square feet (2 million square meters) development will include the Almas tower (Arabic for Diamond), the Au tower (Au being the chemical symbol for gold) and the Ag tower (Ag being the chemical symbol for silver) in addition to plots of land allocated for special manufacturing operations, located in close proximity to Dubai's emerging projects and developments. Almas Tower which will have Christie's, the world's leading auction house, as one of the tenants.

Each purpose-built tower will have facilities that enhance trading and will provide commercial and support facilities for market participants in DMCC's specialized segment; gold and precious metals, diamond and colored stones and commodities. Completed end of 2007, it offers physical trading facilities, storage, hallmarking, package and delivery facilities, a training centre and gems laboratory. Three gold refineries are also expected to be housed in the complex.

DMCC is establishing certification standards including the Dubai Good Delivery (DGD) standard for gold and silver in addition to the Dubai Gem Certification (DGC) for diamonds, gemstones, pearls, and jewellery items. DMCC also patented and launched, in cooperation with Kristall Corporation, the ?Dubai Cut? Diamonds with 99 facets, inspired by the 99 names of Allah. Only member companies of DMCC will have the opportunity to qualify for a license to trade the DUBAI CUT diamond in their products.