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Cultural Development Fund Reviews Opportunities in Saudi Film Sector at Berlin Festival

Director Mati Diop receives the Golden Bear for Best Film for 'Dahomey' during the awards ceremony at the 74th Berlinale International Film Festival in Berlin, Germany, February 24, 2024. REUTERS/Fabrizio Bensch
Director Mati Diop receives the Golden Bear for Best Film for 'Dahomey' during the awards ceremony at the 74th Berlinale International Film Festival in Berlin, Germany, February 24, 2024. REUTERS/Fabrizio Bensch
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Cultural Development Fund Reviews Opportunities in Saudi Film Sector at Berlin Festival

Director Mati Diop receives the Golden Bear for Best Film for 'Dahomey' during the awards ceremony at the 74th Berlinale International Film Festival in Berlin, Germany, February 24, 2024. REUTERS/Fabrizio Bensch
Director Mati Diop receives the Golden Bear for Best Film for 'Dahomey' during the awards ceremony at the 74th Berlinale International Film Festival in Berlin, Germany, February 24, 2024. REUTERS/Fabrizio Bensch

The Cultural Development Fund recently concluded its participation in the 74th edition of the Berlin International Film Festival.

At the festival, the fund joined the Saudi pavilion alongside various government agencies to attract top-notch establishments to enter the Saudi film market.

The fund also held meetings with filmmakers and investors to discuss potential cooperation in the film industry.

Throughout its participation, the fund showcased financing and investment opportunities it offers to both local and foreign enterprises and shed light on the promising Saudi film market. In addition, the fund participated in a dialogue session called "Discover the Richness of Cinema in the Kingdom.”

The Festival took place from February 15 to 25.

During this session, Program Development Department Director Faisal Al-Aseeri highlighted the fund's efforts to provide financing solutions that cater to the sector's needs.

He also discussed the fund's role in reducing investment risks in the sector.

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Van Gogh Painting Falls Short of Expectations in Hong Kong Auction

A visitor looks closely at 'Les canots amarres' by Vincent van Gogh at Christie's new Asia Pacific headquarters in Hong Kong. Peter PARKS / AFP
A visitor looks closely at 'Les canots amarres' by Vincent van Gogh at Christie's new Asia Pacific headquarters in Hong Kong. Peter PARKS / AFP
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Van Gogh Painting Falls Short of Expectations in Hong Kong Auction

A visitor looks closely at 'Les canots amarres' by Vincent van Gogh at Christie's new Asia Pacific headquarters in Hong Kong. Peter PARKS / AFP
A visitor looks closely at 'Les canots amarres' by Vincent van Gogh at Christie's new Asia Pacific headquarters in Hong Kong. Peter PARKS / AFP

A Vincent van Gogh painting displaying the artist's shift from dark realism to vibrant impressionism sold for US$32.2 million at a Hong Kong auction on Thursday, falling short of expectations that it would fetch a record-breaking price.
"Les canots amarres" -- or "the moored boats" -- was the centerpiece of an inaugural evening sale held to celebrate the opening of auction house Christie's new Asia Pacific headquarters.
According to Christie's, it was expected to fetch HK$230-380 million (US$30-50 million) on the auction floor, AFP reported.
If bidding had reached the higher end of the estimated value, it could have surpassed Jean-Michel Basquiat's "Warrior" -- which went for HK$323.6 million in 2021 -- as the most expensive Western painting sold in Asia.

But the hammer of auctioneer Adrien Meyer fell Thursday at HK$250 million.
Cristian Albu, deputy chairman and head of 20th/21st century art at Christie's Asia Pacific, said the price was the "record of a Van Gogh in Asia.”
The auction house was "cautious" with its lineup on Thursday in hopes of boosting market confidence, added Ada Tsui, head of evening sale and specialist for 20th/21st century art.
Owned by the Italian royal family of Bourbon Two Sicilies, the Van Gogh painting is "the most important painting by the artist ever to be offered in Asia,” Christie's said in its introduction.
"'Les canots amarres' marks a vital stepping stone in his career," it said.
The painting is one of about 40 works Van Gogh developed around the scenic French town of Asnieres, a boating hub on the outskirts of Paris, during the summer of 1887.