The Gemological Institute of America (GIA) is preparing to relocate its entire New York laboratory operations to the under construction International Gem Tower (IGT) premises in New York, and has signed a contract to purchase an entire floorspace. The International Gem Tower project is conceived as the only commercial condominium designed specifically for the international diamond, gem and jewellery trade and is slated for completion in 2012. It is being constructed by Extell Development Company.

GIA is preparing to purchase around 30,000 square feet where it would organise its staff and equipment more effectively. "We are very excited about our move to the International Gem Tower," said Donna Baker, president and CEO of GIA. "We look forward to relocating our New York Laboratory operations into a single floor of the IGT. This purchase will increase our efficiency and help GIA manage its long term costs. The move will reinforce our commitment to the New York and U.S. marketplace."

the International Gem Tower is being readied to offer services and amenities of the highest standards in New York's Diamond District - a new level of efficiency, excellence and security that will redefine how business is done in New York. "GIA is the world's foremost authority on diamonds, coloured stones and pearls. It's presence in the building will unequivocally establish the Gem Tower as New York's center for the international trade," said Gary Barnett, president of Extell Development Company. "This prestigious Institute clearly recognises the value the development brings to New York's Diamond District, and we're thrilled to have them on board." Presently, GIA operates across 19 locations in 14 countries.