International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
Sovereign art gallery opens at Jumeirah Lakes Towers
New art gallery will address US$ 400 million Indian art market locally, and serve as bridge between regional art collectors
May 21, 2013 9:10 by Iona Stanley
A new art gallery has opened at Jumeirah Lakes Towers, in Dubai. Sovereign will present the best of Indian art to audiences in the Middle East, popularise regional art, and serve as an advisory to private and corporate art collectors. The new gallery is an organic expansion of India’s famed 50-year-old Pundole Art Gallery, and Pundole’s auction house.
Owner and curator Dadiba Pundole says the concept of Sovereign evolved from a multi-pronged mission. “Although it may be a while before Indian art truly comes of age, it has made great headway in recent years, and is a buzzword for international museums, auctioneers, and art collectors. It is also earning itself a sobriquet as an asset class of importance in investment portfolios. By conservative estimates, the Indian art market is currently valued at US$ 400 million – within a global art market that exceeds US$ 60 billion. The best way to look at these figures is to gauge, and then to harness the immense growth potential. At Sovereign, our aim is simply to make Indian art more available and accessible to collectors in the Middle East.”
Dadiba Pundole, a second-generation owner of one of India’s oldest art galleries, has also served in multiple international roles as curator, consultant, and valuator, and he sees impending prospects for Middle Eastern art, another key growth sector in the global art market. “In our second phase of operations, we will focus on introducing international collectors to artists from the region, especially Emirati talent.”
And finally, Sovereign will continue to help private, corporate and institutional art collectors in improving and increasing their art collections.
“For five decades, we have addressed the specific needs of banks, museums, and art aficionados – in sourcing or selling art to suit time, style, budget and occasion. We will continue this practice at Sovereign,” added Pundole.
Featuring a cool and contemporary space, Sovereign’s interiors are dotted with accents of colour and design. The launch of the gallery was also marked by its first exhibition – featuring six prominent works by six artists who are widely hailed as India’s finest. ‘Pioneers of Indian Modernism’ showcases MF Husain, VS Gaitonde, SH Raza, Tyeb Mehta, Ram Kumar and Akbar Padamsee, and will run until 30 June.
The roster of artists will change approximately every three months, and upcoming shows at the gallery include an exhibition of one of 21st century India’s most important painters, and another by young artists from a UAE-based school.
Sovereign is located at The Palladium in Jumeirah Lakes Towers, and is open from 10.00 am to 1.00 pm, and 4.00 pm to 7.00 pm – every day except Friday. Private viewings can be arranged by appointment on Tel: 04 4322846, or by Email: [email protected]