UTS has received the largest ever philanthropic gift in history by an individual for a university building in Australia.
Chinese business leader Dr Chau Chak Wing has donated a total of $25 million to UTS; $20 million to support the new Faculty of Business Building designed by Frank Gehry, and an additional $5 million to create an endowment fund for student scholarships. It makes Dr Chau one of the leading philanthropists in the Asia-Pacific region.
“We are honoured to accept this outstanding leadership gift,” said Professor Ross Milbourne, Vice-Chancellor of UTS. “We are honoured by our relationship with Dr Chau and his family and humbled by this extraordinary act of generosity.”
In recognition of the gift – the largest ever made to an Australian Business school – UTS will name its new Gehry-designed Faculty of Business building the Dr Chau Chak Wing Building.
“Dr Chau’s generosity not only supports our ambition to build a world-class campus, it also makes possible Australia-China academic exchange opportunities, which helps students expand their global vision. This gift reflects Dr Chau’s leadership in business, education and Australia-China relations,” Professor Milbourne added.
“I am delighted to make this gift to UTS as I believe in its vision and commitment to excellence. I hope this gift continues to inspire global excellence and encourage others to support the education sector, in particular UTS. It is an honour to be associated with UTS and internationally acclaimed architect Frank Gehry and my family and I look forward to a long, enduring friendship with the University.”
The Dr Chau Chak Wing Building is scheduled to be completed by end-2013 at a total cost of $150 million. Scholarships from the Dr Chau Chak Wing Scholarship Fund will be advertised in 2012.
The generosity of individuals such as Dr Chau, Chairman of Kingold Group, is a vital source of funding to the higher education sector that delivers significant value to society at large.