Singapore-listed developer CapitaLand said on Wednesday (Nov 20) that it has agreed to sell The Star Vista for S$296 million to Rock Productions, the business arm of New Creation Church. The sale, which is scheduled to be completed by the end of this year, is expected to generate about S$145 million in net proceeds and about S$32 million in net gain for CapitaLand. Advertisement The selling price is...
Mammoth collection breaks New Creation's own previous record MEGACHURCH New Creation has broken its own record by collecting $21 million in donations in just 24 hours, proving again its ability to pull in the big money. Church founder Joseph Prince announced the news yesterday during services at the church's Suntec location. The money was collected over one day last week on Sunday. 'You people, you are...
New Creation and City Harvest don't flout new rules but will have to abide by usage curbs: URA THE commercial investments of New Creation Church and City Harvest Church do not infringe the Urban Redevelopment Authority's (URA) new guidelines, it has been clarified. But plans for the one-north hub and Suntec Convention Centre will have to comply with restrictions on the use of commercial space for worship,...
So, where does this leave the churches? Commercial premises cannot be owned by or exclusively leased to religious organisations, state the guidelines released yesterday. So, where does this leave City Harvest Church with its $310-million stake in Suntec Singapore? Or New Creation Church, whose business arm is partnering CapitaMalls Asia to build a $1-billion lifestyle hub in One North? The Urban...
I REFER to Sunday's report, 'City Harvest paying $310m to become Suntec co-owner'. While it is City Harvest Church's right to decide how it spends its money, there are related issues which the Government should address. Religious organisations are registered charities. Therefore, contributions and income are non-taxable. However, with more and more religious organisations venturing into business and...
Compare listings
Compare