Hong Kong government to acquire Wang Chi House flats after deadly fire
Over 75% of homeowners at the Wang Fuk Court block have agreed to sell their properties to authorities following last November's tragedy.
Quick Look
- The Hong Kong government will proceed with the acquisition of Wang Chi House flats after 75.8% of owners agreed to sell.
- The move follows a deadly fire last November that killed 168 people and displaced thousands at the Tai Po housing estate.
AI-generated summary
Why It Matters
A deadly fire occurred last November at the Wang Fuk Court estate in Tai Po, resulting in 168 deaths and the displacement of nearly 5,000 residents.
More than 75 per cent of homeowners at the only block spared the worst of last November’s deadly fire at Wang Fuk Court have agreed to sell their flats to the Hong Kong government, with authorities to press ahead with acquisition procedures.
The Housing Bureau said on Thursday that 75.8 per cent of the flats at the estate’s Wang Chi House, or 188 households, had signed sales and purchase agreements as of Wednesday.
“[The] government confirmed that it will continue to take forward the acquisition work of Wang Chi House and sign the assignment with its owners progressively to complete the relevant procedures on title acquisition,” a spokesman said.
In the aftermath of the fire, which killed 168 people and displaced nearly 5,000 others, authorities announced a plan to buy back flats in the eight-block subsidised housing estate in Tai Po.
Under the scheme, the government is acquiring flats at HK$8,000 (US$1,020) or HK$10,500 per square foot, depending on whether the owners have paid their land premiums.
Participants can use the cash compensation to buy a flat on the private open market or join a special sales exercise to purchase new subsidised housing under the government’s “flat-for-flat” arrangement.
What to Watch
AI outlook — possibilities, not facts
Government will sign assignment documents with remaining owners.
Very likely · Within months
Open Questions
- When will the final acquisition procedures be completed?
