BT MAGAZINE 2024 VF no marks 8 oct - Flipbook - Page 59
ISSUE 17
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Dubai as a Hub for Art and Culture:
Investing in Middle Eastern Art
Written by Ally Kerr, Group Executive Director
D
ubai is fast establishing itself as a vibrant centre for art and culture, attracting global attention through
events like Art Dubai. This transformation presents lucrative opportunities for investing in Middle Eastern
art, allowing investors to diversify their portfolios while supporting the region’s cultural heritage. Here’s
a closer look at why Dubai is becoming a key player in the art world and how you can capitalise on this trend.
DUBAI’S ART SCENE: A CULTURAL REVOLUTION
INVESTING IN MIDDLE EASTERN ART
Over the past two decades, Dubai has emerged as a
significant hub for contemporary art in the Middle
East. The city hosts numerous art galleries, cultural
institutions, and events that draw artists, collectors,
and enthusiasts worldwide. One of the pivotal events is
Art Dubai, the region’s most prestigious art fair, which
showcases works from over 55 galleries annually. This
event not only promotes Middle Eastern artists but also
fosters a global dialogue around contemporary art).
Investing in Middle Eastern art opens doors to a world
where financial opportunity meets cultural enrichment.
As Dubai positions itself at the forefront of the global
art scene, the city offers unique avenues for investors
to explore the rich tapestry of Middle Eastern creativity.
Art from the region reflects a diverse and rich cultural
heritage, highlighting how these unique qualities can
enhance the value and appeal of an art investment
portfolio.
Developing cultural districts like Alserkal Avenue
further evidences Dubai’s commitment to art and
culture. Originally a cluster of warehouses, this area
has transformed into a vibrant art and cultural hub,
housing numerous galleries, artist studios, and creative
spaces. It plays a crucial role in promoting both local
and international artists, making it a key destination for
art investment.
DIVERSE AND RICH CULTURAL HERITAGE
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Investing in Middle Eastern art provides a unique
opportunity to engage with the region’s rich cultural
heritage. Artists in Dubai and the wider Middle East
are known for their innovative approaches, blending
traditional motifs with contemporary techniques. This
fusion creates visually compelling works that resonate
with both regional and international collectors.
