The second branch of Hong Kong's only Russian art academy and gallery, Anastassia's Art House and Red Square Gallery, was officially opened in Hong Kong Thursday.

Hong Kong's Acting Director-General of Investment Promotion Simon Galpin and Consul General of the Russian Federation Sergey NGritsay attended the opening ceremony.

Anastassia's Art House and Red Square Gallery were founded by renowned Russian artist and art educator Anastassia Katafygiotis. It offers a wide range of art classes for children and adults and exhibits artworks from around the world. The art house opened its first branch in Sai Kung in 2006.

The academy was assisted by Invest Hong Kong for both its initial establishment and its expansion.

"We are pleased that there is a growing number of art-related business setups in Hong Kong in recent years. It confirms that Hong Kong offers fertile ground for the growth of the culture and art industry," said Galpin at the opening ceremony.

Despite the current difficult financial climate, founder Anastassia Katafygiotis, a renowned Russian artist and art educator, said she feels optimistic and has great plans for expansion.

"We plan to expand rapidly over the next three to five years in Hong Kong and then further expand in the region. It is very likely that we will be opening a new art studio and gallery in a prominent location, even within this year," she said.