Art and culture becomes big business in GCC

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Inventing in art and culture is becoming a big business in the GCC as the region’s governments develop their quest to reinvest their oil windfalls.

Art and culture becomes big business in GCC

Art and culture becomes big business in GCC

Some $2.6 billion value of capital investment is currently planned or under way in cultural facilities in the GCC, including some of the region’s most eye-catching projects such as Abu Dhabi’s $653 million Louvre art gallery.

But increasingly, GCC investors are spending on the artworks themselves, either as a piece of public art aimed at establishing recognizable, iconic and often controversial landmarks.

Hamad International, Doha’s new airport, which inaugurated in April, features a $6.8 million, 23-foot-high, bronze sculpture is both instantly identifiable challenging and interesting.

Doha is creating itself as the GCC’s leading investor in modern-day and fashionable art, even though, sincere to art belief and convention, its investments are not collectively prevalent.

Meanwhile, the total cost of building Saadiyat Island where the Louvre Abu Dhabi will soon to open next year, is in the state of $27 billion. It will also lodge a branch of the Guggenheim and the Zayed National Museum.

The Zayed National Museum will feature the narrative history of the UAE and also the life of its founding president, Sheikh Zayed bin Sultan al-Nahyan.

The museums were pronounced in 2007 and two years later the Abu Dhabi Art fair commenced to help fascinate galleries to the emirates.

On the other hand, Dubai’s approach is distinctive again. It has more than 40 private galleries, of which approximately seven recurrent worldwide fairs to showcase the artists they embody. Art Dubai, Dubai’s own fair, has been running since 2007. It was the first major fair outside Europe and America

Mohamed Dekkak