Savvy art aficionados, who have already witnessed the rise of India and China as new-century’s art superpowers, obviously do not want to miss out probably the next one in making – Dubai. The Arab art market, analysts point out, has been gradually maturing and consolidating; it’s steadily but surely warming up to quality works of art by young and talented practitioners.
Dubai’s art scene has indeed come out stronger since the global economic meltdown in 2008-09, carving a solid regional identity for itself. The price points there are not obviously at a Murakami or Hirst level. However, an influx of bolder dealers and more informed collectors is creating space for more pricey works, marked with a distinct improvement in quality quotient.
Giving a flavor of things cooking up is an ambitious project of a new artist plus art gallery hub in the vast warehouse area of Al Quoz. Estimated to cost roughly £8.5m, it incorporates the creation of around 46,000 sq m of creative space for galleries and artists’ studios in Al Serkal Avenue that already houses many top contemporary dealers the region. The site will include restaurants and a café, to transform it into a complete entertainment arena.
Underlining the dynamism of Dubai’s art scene, Katy Watson of The BBC News states, “It has grown rapidly, and galleries have multiplied in recent years. The emirate is being seen increasingly as the region's art trading hub. Spurring the art scene development are the collectors, mostly younger patrons from Saudi, Qatar and the UAE, keen to invest in contemporary artworks within their own region.”
With a whopping 500% increase in total sales figures of Middle Eastern art segment over the last five years or so, global auction houses like Christie’s with prominent salerooms in Dubai, are keen to capitalize on the new market. Just about a decade ago, not many people seemed to take any kind of interest in art, with most investors opting for real estate or banking.
Dubai’s art scene has indeed come out stronger since the global economic meltdown in 2008-09, carving a solid regional identity for itself. The price points there are not obviously at a Murakami or Hirst level. However, an influx of bolder dealers and more informed collectors is creating space for more pricey works, marked with a distinct improvement in quality quotient.
Giving a flavor of things cooking up is an ambitious project of a new artist plus art gallery hub in the vast warehouse area of Al Quoz. Estimated to cost roughly £8.5m, it incorporates the creation of around 46,000 sq m of creative space for galleries and artists’ studios in Al Serkal Avenue that already houses many top contemporary dealers the region. The site will include restaurants and a café, to transform it into a complete entertainment arena.
Underlining the dynamism of Dubai’s art scene, Katy Watson of The BBC News states, “It has grown rapidly, and galleries have multiplied in recent years. The emirate is being seen increasingly as the region's art trading hub. Spurring the art scene development are the collectors, mostly younger patrons from Saudi, Qatar and the UAE, keen to invest in contemporary artworks within their own region.”
With a whopping 500% increase in total sales figures of Middle Eastern art segment over the last five years or so, global auction houses like Christie’s with prominent salerooms in Dubai, are keen to capitalize on the new market. Just about a decade ago, not many people seemed to take any kind of interest in art, with most investors opting for real estate or banking.
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