Two weeks before the first anniversary of its formal launch, the World Jewelry Center has recorded its 100th signed letter of intent to purchase office space in the new international marketplace for gems and jewelry.
Supergems Jewellery, a division of DTC sightholder Supergems, was the 100th company to join the growing list of leading industry firms.
“This is clearly a major milestone in the development of this historic project,” said World Jewelry Center Managing Director Bill Boyajian. "The real significance of this achievement is in the project's widespread global suppor with representation from virtually every sector of the industry. The momentum is strong across the board in just the beginning stages of the development.”
The 100 firms signed on thus far represent 17 countries and four continents, and nearly a third (210,000 square feet) of the available space in the 52-story office tower. About half (37,000 square feet) of the space in the retail center has already been reserved.
Groundbreaking is planned for September 2008, with project completion anticipated in mid-2011.
The WJC recently received Foreign Trade Zone approval.
"The deferral of U.S. Customs fees for goods entering our FTZ creates money-savings opportunities, and numerous business-to-business options," Boyajian said.