The_King Posted November 20, 2019 Share Posted November 20, 2019 SINGAPORE — 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. The selling price is about 13 per cent above the S$262 million that The Star Vista was valued at the end of June. Located next to the Buona Vista MRT Interchange, The Star Vista is part of a 15-storey integrated development that also includes a 5,000-seat auditorium. It was opened in September 2012 and comprises three levels of retail space with a net lettable area of about 162,500 square feet. The mall had a 95 per cent occupancy as of end-June. Its major tenants include Beauty in the Pot and LeNu, Canton Paradise Teahouse, Redman by Phoon Huat, Swee Lee and Cold Storage. Read also: New Creation pastor’s net worth ‘substantially lower than S$6.4m’ When the transaction is completed, CapitaLand will own 19 malls, including one under development in Singapore. Rock Productions owns The Star Performing Arts Centre that is co-located with The Star Vista. It also manages Rock Gifts & Book Centre, a retail centre that supplies a wide range of inspirational books, music, sermon CDs, DVDs and gifts, as well as Omega Tours & Travel and Shine Auditorium in Shaw Tower. CNA For more stories like this, visit cna.asia. Read more at https://www.todayonline.com/singapore/capitaland-sell-star-vista-s296-million-rock-productions Link to comment Share on other sites More sharing options...
aaur4man Posted November 20, 2019 Share Posted November 20, 2019 Huat ah Link to comment Share on other sites More sharing options...
socrates469bc Posted November 20, 2019 Share Posted November 20, 2019 which brings up an interesting question. is there any transparency on the fund usage by religious organisations obtained from alms giving???? i have 0 trust in the financial accountability of many charities, be it secular or religious. btw, i been reading this book on the vatican recently. 1 Link to comment Share on other sites More sharing options...
XianGe Posted November 20, 2019 Share Posted November 20, 2019 Very rich church Link to comment Share on other sites More sharing options...
meng.huat Posted November 21, 2019 Share Posted November 21, 2019 1 religion huat big big... Buy shopping centers... And record hip hop album... Another religion got misbehaving clerics... keep horse... go MBS... book pinkdot ducks... Singapore religion very happening. 3 Link to comment Share on other sites More sharing options...
Homelander Posted November 21, 2019 Share Posted November 21, 2019 The mega church so huat?! 1 1 Link to comment Share on other sites More sharing options...
socrates469bc Posted November 21, 2019 Share Posted November 21, 2019 7 hours ago, meng.huat said: 1 religion huat big big... Buy shopping centers... And record hip hop album... Another religion got misbehaving clerics... keep horse... go MBS... book pinkdot ducks... Singapore religion very happening. 1 hour ago, Homelander said: The mega church so huat?! 2 Link to comment Share on other sites More sharing options...
The_King Posted November 21, 2019 Author Share Posted November 21, 2019 Heng I am atheist Link to comment Share on other sites More sharing options...
socrates469bc Posted November 21, 2019 Share Posted November 21, 2019 5 hours ago, The_King said: Heng I am atheist 1 Link to comment Share on other sites More sharing options...
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