Market Report

UAE to witness highest growth in private wealth in the GCC

Over the next five years, private wealth in the UAE is projected to post a compound annual growth rate of 10.7 per cent to reach an estimated $1 trillion (Dh3.67 trillion) in 2019, according to the BCG Global Wealth Report 2015. The study which measures the growth dynamics of global financial wealth of households showed that private wealth in UAE showed solid growth or 8.4 per cent in 2014. Between 2013 and 2014, the amount of wealth held in equities rose by 13.8 per cent across the nation.

Market News

Dubai gold trade works to win its shine back

Dubai’s gold and jewellery trade could do with some timely help from the government to tide over an extremely difficult retail environment that has set in since February, market sources say. Such measures could include but not be limited to a freeze on rental increases for the sector. The industry grouping also reckons that the branding associating Dubai as the ‘City of Gold’ should be reinvigorated, particularly in exposures outside of the UAE.

Company News

Qatar GDP to grow at 7.3% next year

Qatar could run its first budget deficit in 15 years in 2016, official government figures have predicted. Ministry of development planning and statistics figures shows the country’s economy will grow by 7.3% next year.  In 2016, Qatar expects to run a fiscal deficit of 4.9 per cent of GDP, the ministry said, and 3.7 per cent the following year.

Vacheron Constantin hosts elite and VIP collector’s preview in Dubai

Vacheron Constantin recently held an elite VIP Collector’s preview in the Presidential suite of the Emirates Towers hotel in Dubai. This exceptional event heralded the launch of three striking collections from the brand, namely the Harmony Collection, the Metiers d’Art Collection and the High Jewellery Collection. The event was attended by 15 niche collectors from the region.

Product Launch

Vacheron Constantin to unveil a pocket watch - "the most complicated watch ever made"

On September 17th, the 260th day of the year, Vacheron Constantin will celebrate its 260th year of uninterrupted activity, making it the oldest watch manufacturer in the world. To mark this date, Vacheron Constantin will unveil a pocket watch announced as "the most complicated watch ever made". It is introduced as an unprecedented indication: a perpetual retrograde date, accompanied by a mobile celestial sky chart and by the sidereal time indication.

Arnold & Son presents HM Flower Special Editions

Arnold & Son unveils HM Flower Special Editions; each of the four models in the series depicts a hand-painted miniature of a flower in full bloom. Available in four distinctive references: a magenta-coloured orchid, yellow and purple irises, and a wonderful orange lily. Each of the flowers is depicted in a hand-painted miniature. Concealed inside the case is the A&S1001 movement, the watch is available with or without a diamond-set bezel. It has twin barrels; all the plates and bridges in the movement are hand-chamfered and decorated.

Bulgari introduces its Diva watch collection

The Diva Watch with Quartz movement as pink gold case set with brilliant-cut diamonds, mandarin garnets, tourmalines and pink opal elements form a splendid composition in which the sumptuous and elegantly stylized petals unfurl across the details of the generously sized watches. Its small fans are transformed into dainty oriental-inspired “bouquets”, while the simple or double cone-shaped motif adorns the bracelet. The band is of satin strap with pink gold folding clasp set with brilliant –cut-diamond.

CHANEL presents the Première BOY watch

The Première BOY watch angles are polished or satin-finished. A curved watchcase outlined with bevelled edges in satin and polished finishes, in beige gold with or without diamonds or in white gold set with diamonds. An opaline dial with a fine guilloché finish highlighted by an oblong shape devoid of numerals. A semi-matt Mississipiensis alligator strap with pin or triple-folding buckle.

Hermès introduces the new Arceau Ecuyère Aventurine

The timepiece is inspired by the night sky with its midnight blue dial, encased in a white gold frame, sparkling with silvery dust reminiscent of twinkling stars. The matt indigo blue alligator strap complements the glittering dial.

Jaeger-LeCoultre unveils Duomètre Unique Travel Time Watch

The new Duomètre Unique Travel Time by Jaeger-LeCoultre in addition to the case, the movement is also the object of refined finishes, including hand-bevelled german silver bridges and the exclusive “côtes soleillées”. The dial Hand-chiselled, silver-toned finishes and hands with Leaf-type, the case extra white gold; polished lugs and satin-brushed case middle. Strap is in alligator leather, high-end white gold pin buckle.

Champs Élysées presents Rive Blanche Papillon

Champs Élysées introduces a new model to the Rive Blanche collection: Rive Blanche Papillon. On its case and dial, precious stones dance with shimmering waves. For the Rive Blanche Papillon, the brand has chosen its inspiration from the humble butterfly. The rose gold case adds warmth to the pristine purity of the mother of pearl dial. The strap is in white alligator leather and pin buckle in rose gold. 

Alpina reveals the Seastrong Diver 300 chronograph Big Date

Alpina presents the Seastrong Diver 300 Chronograph Big Date. The aluminum, unidirectional, turning bezel, turns in just one direction: anti-clockwise. The stainless cushion shaped steel case, the screw-in crown and case-back, the scratch-resistant sapphire crystal, the robust, water-resistant, genuine leather strap and the beautiful engraving of the Alpina diving symbol. The range comes in 4 different models, each with a different bezel colour: bordeaux, grey, navy blue and orange.

Exhibitions & Events

IWC Schaffhausen hosts an exhibition at Villagio mall in Doha

IWC Schaffhausen and its partner in Qatar, Al Majed Jewellery, jointly hosted an exhibition of the elegant Portofino Midsize collection in Doha’s Villagio mall which was started from 8th to 15th June 2015. This exclusive travelling exhibition will run until the end of June and make stopovers in other Middle Eastern cities such as Kuwait, Muscat, Abu Dhabi and Manama.

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