Art storage companies expand in Hong Kong amid government promotion of sector
AI Summary
Art storage companies are expanding in Hong Kong, driven by government efforts to establish the city as a leading art trading hub and the potential of the Greater Bay Area market. Crozier, an American art logistics company, increased its storage space in Hong Kong by 50% last year, now totaling 95,000 square feet across three locations. This expansion includes a new facility in Tsing Yi featuring a museum-standard climate control system. The company cites relatively affordable rent and Hong Kong's proximity to the Greater Bay Area as key factors in its decision to expand despite market fluctuations. Crozier's investment reflects confidence in the Hong Kong art market and its commitment to meeting international standards.
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