Singapore-founded art gallery group Ruyi has opened Ruyi149 Gallery in Hong Kong as a regional headquarters to promote its contemporary art in Asia.
Ruyi, which also has a presence in Shanghai, has opened in its own building on Hollywood Rd in Central. Covering six levels, the gallery offers varied art pieces by international contemporary artists, including local and regional emerging talent.
Founder Bini Low, who has been dealing in art for 25 years, says Hong Kong has long been a leading international art and culture centre.
“Many global galleries and auction houses have a presence in the city. Together with museums like M+ and global events such as Art Basel, the vibrant art scene in the city makes it the ideal place for us to manage our main operations in the region.”
She says Hong Kong is not only an international financial centre, but also a place to engage with the large number of high-net-worth individuals as well as international and mainland visitors.
Invest Hong Kong associate director-general of investment promotion Dr Jimmy Chiang says Hong Kong, as one of the world’s largest art markets by auction sales, provides huge business opportunities for art galleries. “Together with our world-class transport and logistics networks and free port status with no value-added or sales tax, the city is the ideal place for galleries to set up or expand in the region.”