SourcingSep 20, 2023
Natural Diamond Outlook: Indian Diamantaires Navigating Multiple Storms 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, $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.
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.
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.
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.
Editors' Picks
Sponsored by
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.
More on Sourcing
The Latest
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
