A month after announcing that it was canceling its New York fair after just one outing, Photofairs said that it will debut a Hong Kong edition next March, during the city’s art week.

The Hong Kong iteration of the fair, which is dedicated to photography, will run from March 26 to 30, with the first day as VIP preview, coinciding with Art Basel. Photofairs also stages annual event in Shanghai.

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). It will take place at the Central Harbourfront event space, where the Basel satellite fair Art Central is also staged.

Creo’s founder and CEO Scott Gray is CEO of AMA, which oversees Art Central. 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.

“Hong Kong is a global art center uniquely positioned to welcome both the regional and international art communities, making it the perfect location for Photofairs,” Gray said in a statement.

Fan Ni, the director of Photofairs Shanghai, which held its ninth edition in April, will also lead the inaugural Hong Kong edition as its director.

The Hong Kong event will feature three sectors. One called Main will showcase galleries presenting modern and contemporary photography and photo-based art, Focus will feature solo and dual artist presentations, and artists working “at the intersection of photography and new technologies” will be displayed in the Digital section. The fair has not yet disclosed how many booths it plans to have. It is now accepting applications.

In June, citing “market conditions,” Photofairs organizers announced the cancellation of its New York fair, which was scheduled for September at the Javits Center. The inaugural edition debuted last year alongside the Armory Show.

Photofairs Hong Kong arrives amid a number of recent additions to the city’s fair roster, despite reports of local economic challenges. This August will see the debut of the Hong Kong edition of Shanghai’s ART021. Meanwhile, the 1-54 art fair, which spotlights contemporary art from Africa and its diaspora, held a showcase at Christie’s Hong Kong this past March and is reportedly working on bringing a full-fledged fair to the city next year. But its Hong Kong launch is still not confirmed yet.

Hong Kong authorities have taken a proactive approach to international art events, offering subsidies for Art Basel, Art Central, and the upcoming Hong Kong edition of ART021. Funding for each event amounted to HK$15 million ($1.9 million). However, Photofairs said that it has received no funding from the local government.