Construction of the office building began in early 2005 and was completed in 2008 with the installation of some remaining cladding panels at the top of the tower.

The DMCC moved its corporate offices along with the Dubai Diamond Exchange, to the unfinished tower on 15 November 2008.

[6] Almas Tower now houses facilities that provide a wide range of services for the region’s diamond, coloured gemstones and pearl industries.

Due to the type of transactions taking place at the tower, high security is installed.

[8] On 22 April 2018, a fire broke out in Almas Tower and all residents were evacuated, no reported injuries according to the Dubai Civil Defence.