Photofairs has canceled its Hong Kong debut, citing “logistical constraints.” The event was scheduled to take place during the city’s art week in March next year.

The fair’s organizers, the U.K.-based Creo Arts, said that they have received “great interest and engagement” from their partners, local and international galleries, and the arts community. “However, in light of recent logistical constraints, we are unable to hold the fair next year,” a spokesperson noted in an email. “The launch of a new fair relies on a number of contributing factors, and due to recent developments the necessary conditions to produce a high-quality and dynamic fair were no longer met.”

The events group emphasized that Photofairs Shanghai, its flagship event, will return to Shanghai in May next year for a 10th edition.

Photofairs announced in June that they had to cancel the New York outing scheduled for September at the Javits Center, held in tandem with the Armory Show, due to “market conditions.”

Creo did not offer further details about the logistical issues facing its Hong Kong launch, but the spokesperson said it had nothing to do with the planned venue, the Central Harbourfront event space. The fair organizers also confirmed that they had applied for the Hong Kong government’s Mega Arts and Cultural Events (ACE) Fund, which “awarded support” for the organization of Photofairs Hong Kong, but declined to reveal further details about the grant. ACE Fund has backed other art fairs staged in Hong Kong, including Art Basel, Art Central, and Art021.

Photofairs Shanghai. Courtesy of Photofairs.

The organizers, however, did not rule out the possibility of bringing Photofairs to Hong Kong at a late date or other locations. “There has been great feedback and continued interest in Photofairs, so we will continue conversations with our community of dealers and collectors in determining future plans,” the spokesperson said.

Originally scheduled to run March 26 to 30, the fair dedicated to photography was supposed to run side by side with Art Central, a major satellite fair taking place during Hong Kong’s art week, coinciding with Art Basel Hong Kong. Fair organizers announced in July that Fan Ni, the director of Photofairs Shanghai, would also lead the Hong Kong iteration of the fair.

To some local galleries focusing on photography, cancelation of the fair is unfortunate. “I am disappointed, but since the photo market continues to grow steadily, I am sure that we will have a photo fair one day,” Vanessa Franklin, the owner of Hong Kong’s Boogie Woogie Photography, told the South China Morning Post, which first reported the news. Another dealer who did not plan to exhibit at the event noted that there have been many art fairs and galleries have to pick and choose strategically.

Some art-market insiders familiar with the region said that the markets in South Korea and China have been sluggish amid economic slowdown in both countries. While major auction houses have opened their new Asia headquarters over the past two years, art sales did not see tremendous growth this year, with top lots hammering below their low presale estimates and low sell-through rates.

Photofairs Hong Kong is organized by Creo in partnership with Angus Montgomery Arts (AMA), in a collaboration with Meta Media and Great Entertainment Group (GEG). Creo’s founder and CEO Scott Gray is also CEO of AMA, which oversees Art Central. The group is also involved in other fairs across Asia as AMA is a principal and founding shareholder of the Art SG, Taipei Dangdai, and Tokyo Gendai fairs, which are overseen by the Art Assembly. Gray is also a member of the executive team of the Art Assembly.