Hong Kong’s Airport Authority to develop HK$300 million art storage facility

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.(From left) Airport Authority CEO Vivian Cheung, commercial executive director Cissy Chan, Eythos CEO Lewis Cheng and company chairman Paul Cheng. Photo: Elson Li