Saudi jeweller Dana Al Alami partners with Greenlab Diamonds to manufacture lab-grown diamonds

The collaboration was announced at the seventh edition of the Future Investment Initiative. Valued at $120 million, the partnership is expected to usher in a new era for the lab-grown diamonds industry in Saudi Arabia

Riyadh: Saudi-based jewellery brand, Dana Al Alami has officially signed a deal to manufacture lab-grown diamonds with Greenlab Diamonds. The collaboration was announced at the seventh edition of the Future Investment Initiative (FII7) in Riyadh on October 27. Valued at $120 million, this partnership is expected to usher in a new era for the lab-grown diamonds industry in Saudi Arabia.

The lab-grown diamond industry is experiencing revolutionary transformation on a global scale, and showing phenomenal resilience in terms of trade volume and investment. This partnership is poised to have a profound impact on the industry as it combines technology, innovation and taps into the potential that the Saudi Arabian market holds for lab-grown diamonds.

The Dana Al Alami Group is a well-established player in the precious stones trading sector in Saudi Arabia. Their partnership with India-based Greenlab Diamonds exposes to a vast facility across four factories in the city of Surat in Gujarat.

Vipul Patel, Director Sales, Greenlab Diamonds, spoke about redefining the diamond trade and broadening the horizons for lab-grown diamonds. “This milestone is not just a testament to our dedication and hard work, but it also highlights the innovative spirit of the third generation of Greenlab Diamonds. Their fresh perspectives and new approaches have propelled us into new and exciting territories,” Patel added.

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