It is staged each February in Madrid and organised by the IFEMA exhibition centre. Lourdes Fernández directed the fair from 2005 to 2010.
Under her directorship, strict criteria were put in place for selecting participating galleries, helping to boost the quality of the event. Invitations were issued to countries such as Brazil and India and the city of Los Angeles to participate in the event, affording an insight into some pioneering art projects.
Under the guidance of architect Juan Herreros (estudioherreros.com), major changes were introduced to the spatial lay-out of the fair, and a permanent space was created for Latin American participants through the curated Solo Projects programme.