Philux Global Group confirmed the signing of a $5 billion private investor contract to develop the Asian Diamond Exchange (ADE) and the International Financial Center (IFC), both located in Ho Chi Minh City.
The ADE is envisioned as a state-of-the-art bourse consolidating diamond-related activities within a newly-created free trade zone offering tax incentives.
“The Diamond Buildings will provide a secure and closed environment housing everything a diamond trader needs under one roof, combining rough and lab-grown diamond exchanges in Asia for the first time,” the company stated in a press release.
The project will emulate successful international financial centers like Dubai, UAE, and others, integrating diamond trading with financial services.
In addition to trading, ADE will feature lab-grown diamond manufacturing and polishing facilities. Rough diamond trading centers and polishing units will be situated near the under-construction Long Thanh International Airport in Dong Nai province, close to Ho Chi Minh City.
The ADE aims to serve as a central hub for diamond consumers across the region, including China, Singapore, Malaysia, Thailand, Indonesia, Cambodia, Korea, Japan, and Hong Kong.
