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OCTOBER 19-22, 2023
ART: CREATING AND ENHANCING VALUE The added value and significance of art in public spaces and real estate investments

ART: CREATING AND ENHANCING VALUE The added value and significance of art in public spaces and real estate investments

October 19, 2023 17.30

Panel discussion

Artworks appearing in our public spaces and real estate developments become symbols of our communities, reflecting upon our shared history, culture, and creating meeting points that connect different social groups of varying backgrounds, lifestyles and cultures. But the significance of art in our environment goes way beyond culturally enriching our communities, it also functions as a driver for investments. The multifaceted impact of art in the economy, specifically in the real estate sector, is clearly evident. Artworks featured in various types of property developments and in investments in public spaces increase the value of the given properties, exert unique attractiveness in the real estate market, while contributing to the definition and revitalization of the urban fabric, potentially catalyzing it for decades and decades. This, in turn, creates an ecosystem where the wellknown value-creating power of art is complemented by its value-enhancing effect. While numerous examples demonstrate the value-creating and enhancing effects of art, what factors hinder the establishment of a harmonious and continuous relationship between real estate development and the world of art, a clear understanding of each other's interests? And what is the secret to success where this relationship does work well? The value-enhancing effect of artistic interventions is unquestionable, but are there numbers, statistics, and if not, why not, that make this tangible? How can the stakeholders who influence investment decisions contribute to the expansion of art? And what are the motivations that drive or may drive decision-makers in both the public and private sectors in this regard?

Speakers:
Zsófia JAKAB - CEO, Hungarian Fashion and Design Agency - Budapest
Petra PROBSTNER - Department head at the Deputy State Secretariat for Architectural
Strategy, Ministry of Construction and Transportation - Budapest
Harbinder Singh BIRDI - Architect and Creative Director of Birdi & Partners - London
Dejan SLUGA - Art expert, Director, Photon Gallery (Ljubljana, Vienna), Member of the art board overviewing public developments in Slovenia - Ljubljana
Moderated by / A beszélgetést vezeti:
Anna SZILÁGYI - urbanist, Program manager of Building on Art, Hungary - Budapest

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