Churches in Hong Kong are increasingly cashing in on the territory’s sky high property prices by using their land to build swanky apartments with the help of developers.
A report by Bloomberg lists various examples, the most recent of which is the Union Church’s decision to team up with Henderson Land Development Co. – run by Hong Kong’s second-richest man Lee Shai-kee – to build a 22-floor tower on the land currently occupied by the church on Kennedy Road, Mid-Levels.
The land, which was allocated to the church during British colonial rule, is now a prize piece of real estate, especially as property prices reach a record high for seven straight months.
Pastor Greg Anderson said the money from the development will be used to double the seating in the current building and supplement the donations. With 1,000 square foot Mid-Levels apartment currently selling for as much as HKD37 million, surely that’s going to be some supplement compared to the grungy coins rattling around in the collection basket on Sunday.
But the Union Church is in no way alone, with Hong Kong’s Methodist International Church also due to complete a 22-floor tower in Wan Chai by 2017. The HKD400 million price tag is apparently being raised by their 10,000 followers… so maybe we were wrong about those collection baskets after all.
In addition, the Anglican Church plans to build two towers in Lan Kwai Fong (of all places) on the land where a 166-year-old bishop’s house and a church used by Japanese soldiers in World War II stand. The church apparently made a deal with the government to preserve the two heritage buildings at its own cost, and will reportedly use the two new towers for a kindergarten and medical centre.
So not a nightclub specialising in Jäger Bomb body shots. We will see…
Believe it or not though, some are against such high-rise developments in Hong Kong (#fightingalosingbattle). John Batten, a spokesman for an organisation calling itself the Central and Western Concern Group, said churches and property developers are taking advantage of “grey areas in urban planning and development opportunities”.
Old Pastor Anderson, however, is convinced God’s on their side. “We believe that the plan is spiritually and biblically sound. It’s a wise and appropriate use of God’s resources for his kingdom,” he said.
Well, you can’t argue with that.
