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HK churches cash in on land redevelopment
As the land allocated to them during British rule becomes prized property, some rebuild sites, sparking debate about urban planning and heritage preservation
Add BT as a preferred sourcePublished Mon, Dec 8, 2014 · 09:50 PM
Hong Kong
IN Hong Kong, where the four richest billionaires are in real estate, the Union Church is getting in on the act.
It's teaming up with Henderson Land Development Co to rebuild its squat, two-storey brick church saved from rubble after World War II into a 22-floor tower with 17 floors of apartments. Units of about 1,000 square feet in the hilly Mid-Levels district in central Hong Kong sell for as much as HK$37 million (S$6.30 million), according to realtor Centaline Property Agency Ltd.
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