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Art Basel, the world’s largest organizer of commercial modern and contemporary art fairs, will be holding a new event in Qatar, in 2026. The fair is scheduled to take place in Doha in February, according to a statement on Tuesday from Art Basel, its Swiss-based parent company MCH Group, Qatar Sports Investments and a Qatar-based organization called QC+.

This latest Art Basel initiative will expand a portfolio of international events that already includes major fairs in Hong Kong, Miami Beach, Paris and Basel.

“It makes sense for Art Basel to come to our region. It’s the right time,” said Sheikha Al Mayassa Bint Hamad bin Khalifa Al Thani, in a phone interview on Tuesday. Sheikha Al Mayassa has overseen her country’s ambitious program of cultural projects since 2005.

“This gives Art Basel dealers an opportunity to meet new buyers,” she added. “Qatar has good contacts with Central Asia, India and Turkey. Africa is not so far away. It will give our local talent global visibility.”

International art dealers are looking to expand their reach after two years during which aggregate sales have fallen, according to two editions of the Art Basel and UBS Global Art Market Report, regarded as the most reliable indicator of the art market’s size and health. Geopolitical uncertainties and economic volatility saw sales decline 12 percent in 2024, according to the latest report.

With its enormous wealth, primarily based on its vast fossil fuel reserves, the Middle East has long been viewed by the international art trade as a prime market for expansion. Until now, Art Dubai has been the region’s most prominent art fair.

 It’s all part of our long-term vision for the diversification of our economy,” Sheikha Al Mayassa told to The New York Times. With four museums already opened and four more in the planning, Qatar already has a formidable infrastructure of arts institutions.