Pace Gallery will close exhibition spaces in Hong Kong later this month and opt not to renew the lease at H Queen’s. The gallery’s final exhibition will provide the current exhibition for Alejandro Piñeiro Bello, which closes on October 18.
A spokesperson told Artnews The location “no longer serves us and because the rental is due, like many other galleries, we are taking this opportunity to exit.” Pace’s decision was first reported by Art Report.
The gallery said the closure did not mark a full retreat for the city as it would maintain offices in Hong Kong and Beijing, and if the right opportunity arises, it could consider new spaces.
Pace entered Hong Kong in 2014 in the gallery of the Pedder Building and moved to H Queen’s in 2018, a 26-storey tower originally known as a hub for blue chip dealers, including David Zwirner and Tang contemporary. But the buildings were steadily empty. Hauser & Wirth has moved to other nearby locations, while Pearl Lam and Whitestone have also been quit.
The contraction reflects a bigger headwind in Hong Kong’s art market, with mainland Chinese buyers spending slowing, Beijing’s growing control over special administrative regions and a global downturn in the art market. Lévy Gorvy Dayan also closed the Hong Kong gallery last year, citing changes in client behavior.
Despite the end, Pace highlighted its long-term commitment to the region and pointed out its early role as the first major Western gallery to open in Beijing in 2008. “We remain deeply engaged with Hong Kong and Greater China,” the spokesman said, adding that the gallery will continue to support the artist through offices, museums, museums and regional introductions.
