World's most expensive necklace goes on show in Dubai

The most valuable necklace on the planet will go on display in Dubai from today (March 22nd).With 91 diamonds and a value of US$55 million (AED 202 million), the 637 carat Mouawad L'Incomparable Diamond Necklace has officially been recognised by Guinness World Records as the most expensive accessory on earth.It will be showcased at the Mouawad boutique in the Dubai Mall until April 6th. Dubai is no stranger to world records and the mall itself is still the largest in the world."This is the fourth time that Mouawad has received a certificate from the authority of Guinness World Records and it's another of those remarkable moments in history for our family," said Pascal Mouawad, guardian of the Mouawad Retail Division remarked.The fact that such a prestigious piece of jewellery is being shown off in Dubai merely highlights the city's status as a playground for the rich and famous.It has quickly become one of the world's premier shopping destinations and has an impressive selection of designer stores that can rival renowned fashion hubs like New York, Paris and Milan.You only have to look at the huge success of the annual Dubai Shopping Festival (DSF) to see how lucrative the emirate's retail sector is.The 2013 retail extravaganza took place in January and statistics provided by Visa showed that foreign visitors spent more than US$589 million on their credit cards during the event.This was a 19 per cent improvement on 2012, which shows the festival is becoming more and more popular every year."As one of the key sponsors of DSF, Visa is committed to further enhancing this shopping experience and cementing Dubai's reputation as a premier shopping destination to positively impact the UAE economy," commented Marcello Baricordi, general manager for Visa in the UAE.With even more record-breaking malls expected to be built in the next few years, it seems that now is the perfect time for investors from all over the world to get a piece of the action in Dubai.