Hong Kong’s Airport Authority is partnering with a private company to develop a HK$300 million (US$38.28 million) art storage facility set to open next year, as the city looks to cement its position as a global hub for trading valuable works.
Speaking at a contract signing ceremony on Wednesday, authority CEO Vivian Cheung Kar-fay said Hong Kong was the world’s second-largest primary art trading market and a leading gateway connecting mainland China with the rest of the world.
“By leveraging this strength, Skytopia is well-positioned to build an integrated art ecosystem that enhances Hong Kong’s role as the hub of Asia for both aviation and culture,” she said.
Skytopia is a HK$100 billion expansion of Airport City integrating commercial activities, popular culture, art trading, entertainment and leisure, including a marina and other water-based projects.
Working with home-grown company Eythos, the authority will spend HK$300 million to develop the 4,920 square metre, two-storey art storage facility using an existing structure.
“Our goal is to create a platform, one that can take Hong Kong’s art industry to the next level, reinforce our city’s role as a global art hub and enhance Hong Kong’s competitiveness,” Cheung said, stressing the availability of other facilities to build the ecosystem.
