History
In 1987, the time of Negotiations of Hong Kong sovereignty, the land "owner", The Standard Chartered Bank owned the life-time (999 years, until 2854) lease agreement with the Hong Kong Government, signed an agreement with Hang Lung Group, which the latter now own the land and the building and responded the development cost and entire construction management. While Hang Lung Group required to lease back part of the floor area to Standard Chartered Bank for a long period with a low fees. Hang Lung Group currently owned the income of the rental area of 22,101m² and the income from the rest of the area will returned to Hang Lung in 2012.
Read more about this topic: Standard Chartered Bank Building
Famous quotes containing the word history:
“... that there is no other way,
That the history of creation proceeds according to
Stringent laws, and that things
Do get done in this way, but never the things
We set out to accomplish and wanted so desperately
To see come into being.”
—John Ashbery (b. 1927)
“The view of Jerusalem is the history of the world; it is more, it is the history of earth and of heaven.”
—Benjamin Disraeli (1804–1881)
“The history of our era is the nauseating and repulsive history of the crucifixion of the procreative body for the glorification of the spirit.”
—D.H. (David Herbert)