That is the amount that Abu Dhabi, the capital of the United Arab Emirates, agreed Tuesday to pay to attach the Louvre’s name to a museum that it hopes to open in 2012. And there is more: in exchange for art loans, special exhibitions and management advice, Abu Dhabi will pay France an additional $747 million.
Controversy over the Louvre Abu Dhabi has been swirling in France for the last three months, with critics charging that the French government is “selling” its museums. But only now have the full details of the nearly $1.3 billion package been disclosed.
For Abu Dhabi, the deal is an important step in its plan to build a $27 billion tourist and cultural development on Saadiyat Island, opposite the city. The project’s cultural components include a Guggenheim Abu Dhabi, a maritime museum and a performing arts center as well as the Louvre Abu Dhabi.
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