Panis and Shah opens third Almas Tower office

Panis and Shah opens third Almas Tower office

Panis and Shah Associates, an accounting and advisory firm specialising in diamond industry consultancy services, opened its third office in Dubai’s Almas Tower on May 13, the Dubai Multi Commodities Centre (DMCC) announced recently.

DMCC Executive Chairman Ahmed Bin Sulayem, centre, and Dubai Diamond Exchange Chairman Peter Meeus, second from left, officially open Panis and Shah’s third office in Almas Tower on May 13

“We congratulate Panis and Shah Dubai on the opening of their third office based here at Almas Tower in the Jumeirah Lakes Towers (JLT) Free Zone. Although established over 60 years ago in Antwerp, their rapid expansion over just five years in Dubai is phenomenal and a further testament to the Emirate’s growing global importance within the diamond trade, and its location at the centre of the ‘New Silk Route,’” said Ahmed Bin Sulayem, executive chairman of the DMCC.

DMCC originally purpose-built Almas Tower for the diamond industry. Today, Almas is home to the Dubai Diamond Exchange and the Kimberley Process office, while offering vaulting, grading, polishing and boiling facilities all under one roof.

“There are currently over 6,500 companies registered at the JLT Free Zone across all industries. Approximately 200 new companies choose to set up their operations here each month, that’s more than six companies a day – over 90 percent of which are new to Dubai,” Bin Sulayem said. “As a Government of Dubai authority with world-class infrastructure and regulations, it is clear that our members know that they can trade with confidence here.”

Hitesh Shah, Panis and Shah’s managing partner in Dubai, commented: “With innovative solutions and a full range of business services, we ensure that our clients can focus on their core business without having to worry about administration and compliance issues. We help them manage all facets of their business while offering advisory services related to law and financial regulation on a local and international scale with international structural advice.”

During the last 15 years with Shah at the helm, the Panis and Shah Group has formed more than 3,500 companies across free zones and other countries including Belgium, Luxembourg, Singapore, Hong Kong, Mauritius, and is currently advising over 1,000 companies based in the UAE alone, the company said.


We herewith also inform you that Mr. Shah Hitesh is coming to Belgium by the end of May. If you wish to meet him, you can contact us to fix an appointment.