House of Diamonds, Inc., one of New York's leading manufacturers and importers of loose diamonds, announced its purchase of office space at the International Gem Tower. House of Diamonds, Inc. is the New York office of Prem Chand Group of Companies, a multinational diamond manufacturing and exporting family of companies, with offices in Hong Kong, Thailand, Mumbai, Jaipur, China and New York.

"We see significant value in having an office in the International Gem Tower", said Sanjeev Jain, director of the global firm. "Every diamond center around the world already has at least one major hub where the industry comes together to conduct business. The International Gem Tower is filling that void in New York City and will create instant value for our business and the trade as a whole."

"House of Diamonds' decision is a clear vote of confidence from the Indian diamond community" said Raizy Haas, Senior Vice President of Extell Development Company, the company developing the new tower. "The most modern, sophisticated and beautiful building in its league, the Gem Tower will allow businesses around the globe to operate with higher efficiency, increased productivity and state-of-the-art security."

In addition to House of Diamonds, many other global jewelry companies share the vision of finally having a 21st century industry facility in New York's Diamond District that will put the city at the forefront of the global diamond market once again. Ms. Haas added. "This is a very exciting time for the project and the industry as a whole, as construction on the tower progresses and many of our exclusive office spaces continue to sell."

Ref: GJEPC