$25m necklace on display in Bahrain
Manama, November 20, 2013
By Frances Leate
An extravagant BD9.5 million ($25.06 million) diamond encrusted necklace is one of the most stunning pieces on display at this year's Jewellery Arabia exhibition, which opened yesterday (November 19) in Bahrain.
The Mouawad creation features a 25.271 carats oval Burmese Ruby set in 212.78 carats diamonds and a companion ring, said a report in the Gulf Daily News (GDN), our sister publication.
His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa delegated Deputy Premier Shaikh Ali bin Khalifa Al Khalifa to open the 22nd edition taking place at the Bahrain International Exhibition and Convention Centre.
Shaikh Ali stressed Bahrain's status as a hub for major exhibitions.
"The efforts of the government to promote world-standard exhibitions and attract international companies have paid off," he said, citing the ever-growing success of Jewellery Arabia.
He stressed Bahrain's reputation as a platform for world-class companies and mega global economic events - capitalising on its deregulated economy and business openness.
He commended the government, led by HRH the Premier, for its pro-active policies and providing attractive incentives to woo foreign investments and capital.
The event features diamond sparklers, sapphire bracelets, state-of-the-art watches and precious jewels of every colour.
Tens of thousands of collectors and private buyers are expected to come through the doors during the five-day exhibition.
The luxury designers are set to open a boutique in Reef Island next year.
"Things are really on the up in Bahrain and its neighbouring Gulf countries and we feel it is the right time to open a store here," Mouawad chief executive Pascal Mouawad told the GDN.
"The industry has certainly evolved a lot over the years and there is more competition than ever before, which is why we ensure we never compromise on quality or design."
New to the exhibition were Italian jewellers, Bvlgari, who are due to open a boutique at Moda Mall in the next few weeks.
Their jewellery, which includes an Andy Warhol inspired multi-coloured sapphire and diamond necklace, ranges in price from BD100,000 up to about BD1.5 million.
The most unusual item on display was a 20-page, 3.7 metre high and 2.85 metre wide magazine, which was recently confirmed as the world's biggest magazine supplement by the Guinness Book of Records.
The enormous publication, commissioned by Chopard jewellers to showcase their products, was made by MPP Middle East Media, publisher of Arabian Watch and Jewellery Magazine. - TradeArabia News Service