Advertisements
Others

Televangelist Joseph Prince Buys Singapore N80 Billion Mall Without Raising Offering

The Star Vista is a popular mall in Singpore and already houses The Star Performing Arts Centre, home to Prince’s 30,000-strong New Creation Church.

Deacon Yong Chee Ram told The Straits Times that the church had decided to buy the mall so that there would not be any risk to using the space if the property changed hands to a new owner.

"Given that The Star Vista and The Star PAC are inextricably linked, our immediate objective … is both to protect the interest of the church and to preserve the good experience for all who come to The Star PAC," Ram said.

The sale was made by one of Asia’s biggest real estate groups, CapitaLand Limited.

Jason Leow, president of CapitaLand Group Singapore & International said: "The divestment of The Star Vista is in line with CapitaLand’s active and disciplined asset recycling strategy. Year to date, CapitaLand has divested close to S$5.7 billion worth of assets, exceeding our annual target divestment of S$3 billion. The proceeds from these divestments will enhance CapitaLand’s financial flexibility to seize new growth opportunities."

In 2016, the church said it had paid $366m for the Star PAC, which seats 5,000 people.

It told the Strait Times that it already had the funds to purchase the mall, so did not need to launch a fundraising drive to cover the cost of the acquisition.

https://www.christiantoday.com/article/tv-evangelist-joseph-prince-buys-a-singapore-mall-for-217m/133748.htm

Advertisements
  1. Register, Attend and Pass At Once in 2020 Jamb- UTME - Call 08038644328

  2. Admission into Obafemi Awolowo University is made easy at Akahi Tutors, Ile-Ife. Click Here For Details.

  3. Practice FREE School of Nursing Past Questions for ALL Schools Here!

  4. 2020 Jamb UTME Form will be on sale from 10th January, 2020 at Akahi Tutors, Ile-Ife.

  5. Akahi Tutors provides Decent Hostel Accommodation for Students coming from Lagos, Cross River, Abuja etc. Just dial - 08038644328

Categories: Others

Tagged as: Naija Forum