“The Bursa” Diamond Stock Exchange

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Medical Definition:
Bursa: A closed fluid-filled sac that functions to provide a gliding surface to reduce friction between tissues of the body.

It is not only the gliding surfaces of precious diamonds being shined and sold at in the dazzling diamond district (nice alliteration). In the heart of the country, gold and gems of every kind are being polished, perfected and presented at one of the most bustling diamond exchanges in the world. More than 2800 businesses can be found in the diamond district, many involved in the multi-faceted industry. These coexist with a great number of other commercial ventures, including travel and fashion. One favorite landmark also demolished in favor of gentrification on prime real estate is the famous Elite candy factory, though the automated recording in the Dan busses still calls out for “Elite Junction/Bursa” when it is time to descend into the market.

Situated on the border between Tel Aviv and Ramat Gan, the Israeli diamond exchange district has blossomed into a cityscape resembling a more modern but similar look to the skyline glancing over a shoulder at the South Street Seaport in New York. Once rather grimy, the Israeli district now shines with modern, tall buildings including the Moshe Aviv Tower, the tallest in Israel at 224 meters and a kaleidoscope of colors beaming every night from the top floor, the first of the skyscrapers to compete with the near-by Azrieli Center. Of course, nothing exceeded the “Migdal Shalom” (Shalom Tower) on Herzl Street as recently as 1999 when the Azrieli Center was completed. All in all the Diamond Exchange District’s development is a parallel narrative with the country’s process.

The two municipalities – Tel Aviv and Ramat Gan – are linked for convenience to the vital center of Israeli economy by a walkway from the Central Train Station (still known to the locals as “Arlozorov”) and the City Tower Hotel, from which just a five-minute walk puts a visitor smack in the center of things.

A lesson on the history of the Israel diamond industry is like a lesson in world economics, so naturally linked were the two. The business itself takes place in four towers, connected by bridges, making the “bursa,” as it is called, a sort of cocoon, or commune, whichever way one looks at it, though export is the primary goal of the entire membership of the diamond “urban kibbutz.”

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