Christie's plans to expand Hong Kong galleries and salesrooms four-fold by 2024

Hong Kong: British auction house Christie's said on Tuesday it plans to expand its physical presence in Hong Kong by 2024 with galleries and salerooms more than four times larger than it currently has, betting on a growing art market in the finance hub and in Asia.

It will become the first anchor tenant in a new skyscraper in central Hong Kong, leasing a total of 50,000 square foot over four floors. The building, designed by Zaha Hadid Architects and developed by Henderson Land, is due for completion in 2023. Christie's Asia Pacific president Francis Belin told reporters that around 30,000 square foot (2,787 square meters)will be used for galleries and salerooms, compared to 7,000 square foot in their current office.