Jan 18, 2010
$310m building plan for City Harvest
Large complex in 'central south' district will also house shops, restaurants
By Yen Feng
CITY Harvest Church has announced a $310 million expansion plan to buy land, and to erect a building that will house shops, restaurants and a 12,000-seat auditorium.
Founder Kong Hee, 45, said during church services yesterday and last Saturday that the land sale would be completed later this month. He did not specify the location, but said the site would be in the 'central south' district.
He described the site as 'super large'. It is believed the site covers an area as large as three football fields - six times the size of the Protestant church's current home in Jurong West Street 91, which it owns.
'This is truly amazing,' Dr Kong said yesterday at the Singapore Expo, where it has been renting a hall for services. 'Finally, we will have a church in the marketplace, for the marketplace, to penetrate the marketplace.'
The church's plans to incorporate retail elements into its building project follow similar plans announced in 2007 by New Creation Church, another large Christian group in Singapore.
New Creation has teamed up with mall developer CapitaLand Retail to build an 'integrated hub' at Buona Vista. The $1 billion project, when ready in 2012, will house shops, a concert hall and a theatre.
Details of the City Harvest project remain fuzzy. It is not known how many floors the building will have, how much space will be for retail and religious use, or when construction will start and end.
It is also unclear if the church will rope in partners, as New Creation did, to develop the site.
In response to queries from The Straits Times, Reverend Derek Dunn, City Harvest's executive pastor, said yesterday that a non-disclosure agreement prevented him from commenting on the project.
At yesterday's service, Dr Kong said only that there would be 'ample parking', and that the building would have 'eateries, restaurants and world-class facilities'. The news surprised many churchgoers, who cheered and waved their hands.
Last Saturday night, Dr Kong posted a message on his Twitter service that proclaimed: 'Told them the great news. People were laughing, crying, clapping. A new day for City Harvest Church.'
Yesterday, he told the congregation that expansion plans had been germinating since 2005, when the church began renting a hall at Singapore Expo to hold additional services for its growing congregation - now 27,000 strong. The Jurong West church seats only about 2,400.
According to City Harvest financial statements, it spent $3 million on rent from July 2007 to October 2008.
Dr Kong said he had considered 25 potential sites, including the Capitol Theatre at Stamford Road, The Pines Club at Stevens Road and the Toa Payoh Sports Complex, but had found them all unsuitable.
At $310 million, the proposed facilities would cost each member about $11,000 if they divided the amount equally.
Member donations make up more than 95 per cent of the church's annual income.
The church plans to pay for the project over seven to 10 years, although it has set an initial target of $17 million by June.
Members were optimistic, despite the recession, that they would reach the target. They also pointed to how New Creation Church members managed to raise $19 million in just one day last year in March - at a time when banks were failing and millions worldwide were out of jobs.
Subscribe to:
Post Comments (Atom)
Pre-development Land Investing
In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
Hello Everybody,
ReplyDeleteMy name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.
BORROWERS APPLICATION DETAILS
1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..
Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com