DUBAI INTERNATIONAL FINANCE CENTER BUYS STAKE IN GULF ART FAIR

The Dubai International Financial Center (DIFC) has bought a 50 percent stake in the Gulf Art Fair. The deal, announced yesterday, was concluded a month ago, reports Antonia Carver for the Art Newspaper. The first edition of the fair takes place in Dubai from March 7 to 10. “This is perhaps a first for an art fair,” says John Martin, Gulf Art Fair director. “It’s now a joint venture, with the DIFC committed to the next two to three years.” Established in 2004, the DIFC operates a 110-acre zone behind the central business district of Sheikh Zayed Road. Most of the artists’ projects commissioned by the fair will now be situated in the DIFC’s vast complex, with Florence-based Patrizio Travagli among a number of artists selected.