Family offices gain boost as HK airport adds art facility

An art-storage facility at Hong Kong International Airport is set to open later this year or early 2025, completing the city’s eight-point plan to attract family offices, said Jason Fong, global head of family office at InvestHK. Designed to support succession planning and wealth preservation, the facility will offer secure, climate-controlled storage for valuable collections. Fong said the site will enable quick art trades, boosting Hong Kong’s role as an art hub. The airport’s Skytopia project includes the storage site, a marina, hotels, and performance venues. Art imports and exports hit USD30.7bn and USD33.4bn, respectively, in 2022. UBS, HSBC, and Citi support expanded infrastructure to enable art financing and enhance the city’s appeal to wealthy investors and collectors.