8% of Wang Fuk Court Homeowners Yet to Accept HK Govt's Buy-Back Offer as Deadline Looms

About 8 per cent of homeowners at the fire-ravaged Wang Fuk Court in Hong Kong have yet to accept the government’s buy-back offer, which is set to expire at the end of this month. Chief Executive John Lee Ka-chiu said on Sunday that 91.9 per cent of owners had submitted acceptance letters, while 65.7 per cent of owners had already signed sale and purchase agreements with the government. Speaking to the media after a town hall meeting to gather views on the city’s first five-year plan and annual policy address, Lee said the process of transferring ownership was proceeding smoothly and in an orderly manner. The blaze in November swept through seven of the Tai Po estate’s eight blocks, killing 168 people and displacing about 5,000 residents. Owners have until August 31 to submit acceptance letters. After selling their homes and receiving compensation, they may either buy a property on the open market or join a special sales programme to acquire a new subsidised flat, using cash or under a flat-for-flat arrangement. Those who had already indicated their intention to sell by June 30 are eligible for priority flat selection under the special sales programme. Lee had earlier said on July 28 that 90.8 per cent of homeowners had accepted the offer, suggesting that only about an additional 1 per cent had agreed to sell their flats over the past two weeks.