Sourcing

New Surat Diamond Bourse To Be World’s Largest Office Complex

SourcingSep 20, 2023

New Surat Diamond Bourse To Be World’s Largest Office Complex

The massive space spans 7.1 million square feet with more than 4,000 offices and 131 elevators.

The new Surat Diamond Bourse
The new, $385 million Surat Diamond Bourse is scheduled to officially open in mid-December and will become the largest office building the world, surpassing the Pentagon.
Surat, India—Later this year, Surat, the undisputed diamond manufacturing capital of the world, will take its next big step.  
On Dec. 17, Indian Prime Minister Narendra Modi is among those scheduled to be on hand to inaugurate the new complex that will house the Surat Diamond Bourse (SDB), said bourse CEO Mahesh Gadhavi.  

The opening will usher in a new era for the city’s diamond industry, one where an ultra-modern trading eco-system will complement the world-class manufacturing infrastructure India’s developed over the past two and a half decades. 
 
Though its high-profile inaugural event is still a few months off, the bourse already has been making headlines.  
 
In July, CNN reported that the Surat Diamond Bourse will be the largest office building in the world, surpassing the Pentagon in size with its 7.1 million square feet of floor space. 
 
Taking over this mantle was not the aim of the project when it was conceived; its sheer size is reflective of demand from the industry, SDB officials have pointed out. 
 
Spread out among nine 15-story office towers connected by a central corridor, the complex will have 4,700 office spaces ranging in size from 300 square feet to more than 1 million square feet, 131 elevators, and “ample” open spaces for more informal networking. 
 
Surat Diamond Bourse at night
20230920_Surat Diamond Bourse night: A nighttime shot of the new Surat Diamond Bourse

It is designed to accommodate 67,000 professionals related to diamond trading and ancillary services and cost about $385 million to build.  
 
Despite its mega proportions, SDB has been planned so as to minimize environmental impact.  
 
It has achieved compliance with the Platinum Standard laid out by the World Green Building Council with features such as rainwater harvesting, solar power generation, recycled water systems, and ample use of local construction materials. 
 
The architecture firm that designed the bourse, Morphogenesis, describes it as a structure that integrates high-density commercial architecture with efficient climate-responsive design. 
 
Gadhavi said the bourse follows the principles of Panchtattva, aligning with the five elements of nature: air, water, fire, earth and sky. 
 
The consultants said these design principles ensure that nearly 50 percent of the structure is cooled using natural ventilation due to the directional axis along which the structure is aligned as well as the separation of towers for greater circulation.  
 
Documents also show that solar power will be utilized in common areas and a radiant cooling system, among other innovations, will enable the building to remain cool even during the hottest summer months. 
 
SDB will be one of the landmarks of a new business district called DREAM (the Diamond Research and Mercantile City), envisioned by Indian planners to be a “smart city,” one of a few being developed in Gujarat.  
 
Gadhavi said the bourse will be fully focused on trading activities and will be center like no other.  
 
Work on the interiors is progressing rapidly, and he said by the time the bourse officially opens its doors in December, more than 1,000 offices are expected to be fully functional. 
 
 Related stories will be right here … 
 
So, what impact will the new bourse have on India’s diamond industry? There are no easy answers. 
 
Diamantaires leading the new bourse project believe it is an idea whose time has come.  
 
They stress that a second diamond trading hub in Surat, one that brings manufacturing and trading activity together in close proximity, will promote efficiency and save costs for many players, especially smaller companies.  
 
It also will improve the quality of life for those who either have long daily commutes from the distant suburbs of Mumbai to their jobs or have to spend four to five hours traveling between Mumbai and Surat multiple times a week, they say. 
 
There are others, however, who point out that Mumbai did not emerge as a trading hub for diamonds by sheer chance. When the industry began to take important strides in the global arena, it offered all the advantages of a modern, international city.  
 
Moreover, Mumbai is the country’s de facto financial center.  
 
Infrastructure that facilitated global trade in diamonds already was in place, with a well-connected airport, a network of banks that offered trade financing and emerging integrated business hubs like the Bandra Kurla Complex, which is home to Bharat Diamond Bourse (BDB).  
 
These factors will impact relocation decisions, in their view. 
A few leading companies have gone on record stating that they will be shifting their entire operations to Surat but not many diamantaires are willing to publicly commit to which is their preferred option.  
 
More than a few have acquired space in SDB in addition to BDB and say they will run operations across both locations.  
 
Observers point to structures that families, especially those heading the industry’s largest diamond companies, have evolved over the past two decades as Surat emerged as a mega-manufacturing center.  
 
These families divided responsibilities among their members, with one or more focusing on Surat-based manufacturing operations while others looked after Mumbai-based trading activity. Such arrangements are likely to continue, they say.  
 
For some of the smaller and mid-sized companies, this option may not be economically viable.  
 
A third school of thought opines that India has consolidated its position in the natural diamond industry and is now an emerging power in lab-grown diamonds as well.  

Given the sheer size of the former product segment, which it is expected to maintain for the next decade or more at least, and the estimated potential of the sunrise lab-grown diamond sector, there may come a time when the combined space of the two bourses won’t even be enough to handle the volume of diamonds being traded.  
 
Only time will tell which viewpoint will prove to be correct.  
 
Stephen Regois a senior journalist from India with extensive experience writing about the gem and jewelry industry.

The Latest

Bonhams New Bond Street London flagship
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives Replaced

London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.

De Beers Diamond View Zoom machine with monitor
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument Demo

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

Two brooches stolen in the October 2025 heist at the Louvre Museum in Paris
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

BTYB10.25_Header.jpg
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know Now

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

Wyld Box Jewelry Ray of Light Large Drop Earrings
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ Earrings

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

Weekly QuizOct 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Tiffany & Co. Bird on a Rock pendant
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, Kering

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

Million Dollar Hip Hop Watches by Leon Schäfers, Jeanette Lang, Tobias Kargoll
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch History

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

LIM-401 2024 National Jeweler Supplier Bulletin- iD100 Web and Eblast FINAL (2) (1).jpg
Brought to you by
Protect Your Customers and Your Business

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

Alexis Vourvoulis
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & Watches

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

Taylor Swift engagement ring Greenwich St
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds Edition

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Rahaminov Diamonds Emerald-Cut Diamond Bracelet
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the Holidays

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

Fancy vivid purplish pink diamond
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva Auction

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

Tiffany & Co. Bird on a Rock by Tiffany High Jewelry Lariat
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New Perch

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Jewelers for Children Halloween contest
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume Challenge

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Hillsborough show
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New Owner

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

Bicolor pink and colorless diamond
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink Diamond

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Pomellato Rodeo Drive Flagship Exterior
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive Flagship

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

Grown Brilliance NYC Flagship Exterior
Lab-GrownOct 21, 2025
Grown Brilliance Opens First Flagship

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

Douriean Fletcher Messenger Collection
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MAD

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Sothebys the glowing rose pink diamond
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink Diamond

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

2025_Gemfields logo.jpg
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby Mine

They were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.

Empress Eugénie’s pearl and diamond tiara
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

Lauren Gayda
SourcingOct 20, 2025
Pristine Gems Names New Director of European Sales

Gemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.

Charles London, Mayer and Fran Udell, Mark and Candy Udell
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100

In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.

The Edit – A Gallery of Italian Jewelry Masterpieces Graphic
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYC

The new showcase dedicated to Italian jewelry design is set for Oct. 29-30.

Judi Powers Jewelry Stella Earrings
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ Earrings

Take a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.

Jeffrey Zimmer Reeds Jewelers
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer

Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy