Government finalises plan to purchase Wang Fuk Court damaged buildings

發佈日期: 2026-02-21 20:44

TVB News

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The government has announced long-term housing arrangement plans for residents of Wang Fuk Court in Tai Po, after the housing complex was devastated by last year's No. 5 alarm fire.  

Authorities said the buyout plan covering flats of the seven affected blocks costs around 6.8 billion dollars. 

Offers for units for which the land premium had not been paid would be 8,000 dollars per square foot, while units with the premium paid up would be 10,500 dollars. 

The government announced its plans for the long-term housing arrangement for Wang Fuk Court residents this afternoon. 

With authorities having received more than 90 percent of responses for its questionaire for property owners of the damaged housing estate, Deputy Financial Secretary Michael Wong said 74 percent of those surveyed are considering the government's offer to acquire ownership of all the flats directly.

Large numbers of them agree to a "flat-for-flat" exchange or cash buyout scheme. 

Besides the unaffected Wang Chi House, all seven other buildings will be purchased by the government. 

Under the current arrangement, offers for units for which the land premium had not been paid would be 8,000 dollars per square foot, while units with the premium paid up would be 10,500 dollars. 

The total figure would reach 6.8 billion dollars, while the government will pay 4 billion dollars in subsidies from public coffers. 

Michael Wong also explained the reasons for not rebuilding on the original site. "In formulating the government's package, it is impossible to satisfy the wish of everyone. We're talking, after all, over 1,900 different owners and tenants. The greatest difficulty is the time required. We have explained that it will require at least nine to ten years before these arrangements can allow the owners and tenants to move back."

To facilitate residents opting for the "flat-for-flat" exchange scheme, the government will prioritise their selections for some apartments from the Housing Authority. 

Authorities emphasised the seven affected structures were damaged beyond repair and must be demolished.

Initial plans include transforming the site into a park or for community facilities.