The return of former exhibitors to the fair boosts the city’s place in Asia’s art market even as political and economic challenges persist
Art Basel Hong Kong opens with as much good news as bad. Last year’s release from all Covid restrictions has given the event a reboot and resulted in 242 exhibitors, 93 more than in 2023. Of these, 23 are new to the fair while 69 return after what for some was a four-year break, signalling renewed faith in Hong Kong’s position as Asia’s art-market centre. On the other hand, China’s economy is facing a protracted slowdown, as its property sector, hit by developers’ defaults, continues to suffer.
Last year Phillips opened a swanky space designed by Herzog & de Meuron and LAAB Architects, opposite M+; Sotheby’s has commissioned the Rotterdam architects MVRDV to design its new “Maison” to open in the Landmark Chater luxury retail building in July; Christie’s is due to become the anchor tenant in the nearby Henderson skyscraper, designed by Zaha Hadid Architects, later this year.
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