Sarin Technologies Ltd. announced that its wholly-owned US-based subsidiaries have closed on the purchase of approximately 500 square meters of office space at a cost of approximately $5 million in the new International Gem Tower, dedicated to the diamond, gem and jewellery trade, now being completed in New York City on 47th Street (Diamond Way) between Fifth and Sixth Avenues. The Subsidiaries have initially paid the above-noted sum from the Group's internal resources, but expect to finance up to half of the purchase via bank loans.