designer Faisol Abdullah is creating the world's most expensive dress decorated with 751 diamonds
from Middle Eastern jeweler Mouawad
. The $30 million frock tops Chris Aire
's $20 million diamond dress (above) created last year and ties the $30 million diamond bikini
in terms of the world's most expensive item of clothing. Abdullah plans to debut the silk and taffeta evening gown, which features a central 70 carat pear-shaped diamond and is dubbed the "Nightingale of Kuala Lumpur
," in time for next month's STYLO Fashion festival in the Malaysian capital. Mouawad, which produces Heidi Klum's jewelry line, is a red carpet favorite
of Nicole Kidman, Angelina Jolie
, Jennifer Lopez and Britney Spears.
"Stocks drop, gold
is even falling but a diamond is forever," Abdullah tells
Reuters. "This is a dress with diamonds. Why go backwards, why can't we go forwards? We are going to the fantastic, but its real. You are getting value for money with these diamonds." "It's a security and insurance nightmare buts it's worth it," adds Antoine Bakhache, head of Mouawad
's Asia operations. "It's not throwing $30 million right down the drain, it is an investment for the super-rich." Nancy Yeoh, chief executive of STYLO which commissioned the dress, says they plan to present the garment to royal courts around the world starting with the Middle East
, noting, "It's art and there are still enough rich people who would want to buy."