After a 15 year hiatus, The Israel Diamond Exchange (IDE) will be expanding its present office premises by another 11,500 sq.m. IDE, headed by its President Avi Paz signed the agreement on 6 May 2008, enabling the expansion. %% The expansion is being undertaken to allow diamond companies to increase their businesses, while also creating opportunities for international companies to set up offices at IDE. The present set up lacks space, which discouraged foreign companies evincing interest in setting up offices in IDE, to hold onto their plans. That’s why this expansion is being looked upon as a booster to Israel’s Diamond trade. %% Avi Paz noted: “This is a momentous achievement for the Israeli Diamond Industry and a special day for the IDE. For years we have suffered from a shortage of space which began to restrict our activities. Now, finally, we can expand our businesses and welcome large international companies that wish to operate in Israel. I have no doubt that the Israeli Diamond Industry, in particular, and the Israeli economy, in general, will benefit from this transaction.” %% The 10 top floors of the “Yahalom” building will be incorporated within the secure complex of buildings in the IDE and will be combined with the 80,000 sq.m. of office space existing in the complex to date. The infrastructure work is expected to be completed by the beginning of 2009 and occupants will be able to move in accordingly. Members of the IDE expressed their satisfaction on the expansion to take place.