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GCC property boom drives fine Art Collecting
Jan '08
The construction boom taking place across the Gulf has created strong demand for art and antiques collection, according to industry sources.

The building of five million new housing units across the Gulf is essential to meet the needs of the growing number of national residents and rising influx of expatriates. The UAE alone has seen 44,000 new housing units completed in 2007.

The vast majority of the homes are priced in excess of USD 500,000, with up to 20 percent of new homes priced at or beyond the USD 3 million mark.

These new home owners, many of whom own multiple homes, look to decorate them to a very high standard and often work with multiple international galleries in establishing collections.

“After all of the extraordinary architectural development, the focus on interiors will be next, making this an ideal time to launch 'Art & Antiques Dubai' ” said Giles Haughton, Event Director.

“It is an exciting part of the world with its proximity to rapidly developing GCC neighbors, as well as the Indian sub continent. We are pleased that many of the world's top dealers will be participating.”

Ronald Phillips Ltd of London, one of the world's most prestigious antique dealers, specialising in the finest 18th and 19th century English furnishings, has joined the already impressive exhibitor line-up at Art and Antiques Dubai.

Simon Phillips, who has run the business for the past 12 years since taking over from his father, with be leading his team in Dubai.

Commenting on Art and Antiques Dubai, Simon Phillips said: “The show affords us an ideal opportunity to meet more intimately with new and existing buyers.

And, having exhibited previously with the Haughtons, we are certain that the event will be of the very highest calibre.”

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