Pace will cease to operate its Hong Kong gallery space as of later this month. A spokesperson for the gallery confirms to The Art Newspaper today (3 October) that it "will not be renewing its lease at H Queen's when it expires after the current Alejandro Piñeiro Bello exhibition" (until 18 October). The gallery will continue to operate offices in both Hong Kong and Beijing.
"Our gallery space at H Queen's is no longer serving us and since our lease is expiring, like many other galleries, we are taking the opportunity to exit," the spokesperson adds.
Pace has maintained a gallery in Hong Kong for more than a decade, first launching in the city in 2014 in the pre-war Pedder Building, before moving in 2018 to the new 26-storey tower H Queen's.
When H Queen's launched, it was heralded as Hong Kong's shiny new gallery hub, with a raft of dealers quickly taking spaces in the building, including David Zwirner and Tang Contemporary Art. Today, only a few of its gallery tenants are left. Pace's departure from H Queen's follows that of Hauser & Wirth, which relocated to two spaces nearby. The galleries Pearl Lam and Whitestone have also closed their H Queen's locations.
Hong Kong's viability as the premier Asia outpost for international galleries has been imperilled following a sharp decline in spending by Mainland Chinese collectors, political pressure from Beijing and a downturn in the global market. Last year, the gallery Lévy Gorvy Dayan closed its Hong Kong space and has not re-opened in the city. The gallery's head of operations for Asia, Rebecca Wei, told the Financial Times at the time of closure that "client behaviour had changed".
Pace "will be exploring alternative gallery spaces across the city and will take a new lease if we find an appropriate opportunity," the spokesperson says.
"We are so proud of Pace’s history as the first international gallery to establish a gallery in China, first in Beijing in 2008, then Hong Kong in 2014," they add. "We have such a long and deep commitment to the arts community in Hong Kong and Greater China, and while we are without a permanent gallery space in Hong Kong we will continue to focus on our artist and client relationships through our offices in Hong Kong and Beijing and with greater connectivity to our regional and global teams. We will seek opportunities to present our artists’ work through our strong network of curators and museum directors in the region, as well as at other private and public spaces."
