New Creation Church, One North Buona Vista 2

Seeing how “New Creation Church, One North Buona Vista” is the top ranking keyword to my site, I decided to snoop around somemore…

Wikipedia still had not update their post on NCC here

The Straits Times came up with another newspaper report (Whilst link last, but I’m not gonna take chances)

Sep 16, 2007
Why church inked Buona Vista mega-property deal

60-year rental: $343m
A place of its own: $280m

By Nur Dianah Suhaimi

TO HEAR Deacon Matthew Kang talk, it makes sense for a church to go into property development.

The church in question is the 23-year-old charismatic New Creation Church. Its Sunday services at Suntec City Mall draw long lines of worshippers that snake round the block.

The property in question, announced last week, is a $660-million lifestyle hub in Buona Vista. The church’s business arm, Rock Productions, is partnering property giant CapitaLand to develop the site.

In an interview with The Sunday Times, Mr Kang, one of the directors of Rock Productions, explained why the church decided to turn property developer in such a big way – the company’s investment in the project comes up to $280 million.

Every month, the church pays Suntec City $477,000 to rent the 1,400-seat auditorium, where it holds its services, and a convention hall to accommodate the spillover of worshippers. Its congregation is 16,000-strong.

Mr Kang, a full-time director of financial services at insurance company Manulife Financial, said the rental would add up to $343 million in 60 years’ time.

It thus makes economic sense to invest $280 million in developing its share of the 60-year lease Buona Vista site, which consists of an auditorium, an amphitheatre, an outdoor theatre, two ballrooms and a rooftop function area.

The restaurants, shops, wine bars and dance clubs will be developed by CapitaLand.

When the complex is ready in 2011, services would be held at the 5,000-seat auditorium.

The amount involved is no small sum but Mr Kang, 47, said the church would have no problems ponying up the money.

Even before the foundation has been laid, it already has $100 million in cash to cover 35 per cent of the project cost.

Since the company is projected to make about $60million in profit over the next three years, it is left with $120 million to raise.

Mr Kang, who is married with three children, said: ‘Of course it is possible to raise $120 million. We have faith that people will give.’

According to the church’s financial statements, it received $39.3 million in tithe and offerings in its 2007 financial year.

Rock Productions, set up in 1998 with a paid-up capital of $8 million, is fully funded by the church.

The company is run by a six-member board chaired by church pastor Joseph Prince, 44, who started preaching from a four-room flat in Holland Road.

The board members, who do not receive any salary or dividends from the company, make all the business decisions.

One of its shrewdest was the 2001 purchase of Marine Cove at East Coast Park for $10 million, $4 million below its valuation price, after the previous owner had to sell off assets to pay creditors.

Mr Kang, who readily quotes from the Bible to illustrate the virtues of investing, said: ‘Marine Cove was a great investment. It came with ready, popular tenants such as McDonald’s and the place is always crowded. Even the carpark is making money.’

Profit from Marine Cove came up to $425,388 in the last financial year.

Other religious organisations are also actively involved in business. Sultan Mosque, in Bussorah Street, collects rent from 11 shophouses that were donated to the mosque by members of the public. The Kong Meng San Phor Kark See Monastery earns income from its crematorium.

In 2002, the Methodist Church leased out a 173,800 sqft piece of land in Mount Sophia to Centrepoint Properties for a reported sum of $50 million.

In 2003, the Seventh-Day Adventist Church sold a 13-storey condominium in Irrawady Road for an estimated $21 million.

Mr Kang, referring to the parable about the servant who buried Jesus’ money instead of investing it, said: ‘In today’s context, that is like keeping money under your mattress. Putting money in the bank and earning interest is the last resort.’

ndianah@sph.com.sg

ST_IMAGES_ROCK1B

AN ARTIST’S IMPRESSION of the $660m complex with its distinctive shape which is likely to be achieved using titanium. When the complex is ready in 2011, church services would be held at the 5,000-seat auditorium. — PHOTO: NEW CREATION CHURCH

—————————————————————————

One of the comments on the above news report:

what is interesting is the amount of tithe these churches are collecting. Huge sum of money, millions and millions. of course we can’t question about how the organisation wants to spend the money, since they got it tru legal means. My personal point is that if a huge sum of it is used to glorify the religion or spend on infrastructure and comfort goods(better sound system, better seats, roomy lecture halls) instead of helping the needies and less fortunate in the society. I would not respect that organisation or religion as much as another group who would spend more on helping others. A lot of american mega churches are suffering from such bad impressions. I fear we are following the same path. When things get too mega, hubris and greed might creep in. Purity and holiness diminishes.
Posted by: alamakagain at Sun Sep 16 12:28:12 SGT 2007

Ok I have a reply to this. I thank alamakagain for her/his deep concern that we would fall into bad reputation like the American churches. Actually this is what I have been worrying about too. Cos like, NCC and Pastor Prince is going into the limelight, there is always this question lingering behind my head: Will there be bad news from all these good news? Cos some people can see something bad in even the good-est good. Disclaimer: Ooops, if that sounds like you, I didn’t mean to pinpoint here.

I am sending you out like sheep among wolves. Therefore be as shrewd as snakes and as innocent as doves.
Matthew 10:16 (New International Version)

The way I see it, the whole world needs to be saved. Therefore save yourself to save others. The scripture above also hints that not everybody needs to be saved by you–be selective in whom you preach the Word of God to. It is highly impossible to save the whole world since the whole world needs to be saved. Let God do that job–let Him save the world. So instead of worrying about the hungry kids in Africa, how about the spirit-hungry people in Singapore? Don’t they deserve our attention more? For they are our own people. And closer to your home. The same could be said about the needy outside church. Save your own people so that they could touch others’ lives outside church. Lead them closer to the walk of Christ so that they can shine some light on others.

Jesus said, be discrepant about the people you saved. Therefore do not easily save, save only when your spirit overflows with the love of God, the knowledge of Christ’s sacrifice and your live overflowing with milk and honey.

So anyway, like the powerpoint slides stated, we will be saving more money.

—————————————————————————

NCC Website also put up a less than impressive announcement on the new site.
http://www.newcreation.org.sg/one%2Dnorth/

OOoo I really like that video man. Can see the building better with the 3D-360 degrees swivel.

Oooo and I really like how they put up powerpoint slides of the cost comparison between One-North and our current location at Suntec City and at the Indoor Stadium. But I still want our Chinese New Year to be at Indoor Stadium… cos I never been there 😛 But I don’t want Indoor Stadium to be holding weekly sermons, cos Pastor Prince would be even too tiny for telescope…

—————————————————————————

Joseph Prince Ministries’ Official YouTube Channel

http://youtube.com/user/JosephPrinceMedia

Which I took from Joseph Prince Ministries for the U.S./Canada/International audiences

JESUS IS THE WAY!

Previous post

MORE

Advertisements

2 responses to this post.

  1. Posted by Christian Whom Jesus Loves on September 17, 2007 at 11:08 am

    Mat 26:11
    “For you have the poor with you always, but Me you do not have always.

  2. Posted by Andrea Ng on September 18, 2007 at 2:45 am

    My fellow brother/sister quotes it best with a scripture.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: