Owners of Wang Chi House, spared in Hong Kong's Wang Fuk Court fire, must decide by June 30 whether to sell under a government buyback scheme, facing a tight deadline for crucial details.
More than 800 families displaced by the deadly Tai Po fire have expressed an interest in visiting their homes again after being allowed to return to the estate in recent weeks, a senior Hong Kong official has said. The government also expressed confidence that at least three-quarters of homeowners of Wang Chi House – the only one of Wang Fuk Court’s eight blocks left largely unscathed by last November’s fire – would accept its buy-back package by the deadline at the end of June. Deputy Chief...
The Hong Kong government is confident that at least 75% of homeowners in Wang Chi House – the only block unscathed in the Wang Fuk Court fire – will accept its buy-back package by end of June. Deputy Financial Secretary Michael Wong Wai-lun said 77% of owners have expressed initial interest in selling their property rights. The offer requires 75% of owners to sign an official letter of acceptance by June 30 and agreement for sale and purchase by October 15.
Hong Kong authorities have warned homeowners in the only undamaged block of Wang Fuk Court estate that rejecting the government's buy-back offer will lead to significant difficulties in property management and maintenance. Deputy Financial Secretary Michael Wong Wai-lun said the government could invoke legislation to acquire all property titles if at least 75% of owners agree by June 30. About 77% of the 248 flat owners in Wang Chi House have indicated initial interest in the scheme.
The Hong Kong government will include Wang Chi House, the only block spared in the deadly Wang Fuk Court blaze in Tai Po that killed 168 people in November, in its resettlement plan after 75% of homeowners indicated a preference to sell their flats to authorities. The block was originally excluded from the February proposals, but Deputy Financial Secretary Michael Wong Wai-lun had said authorities would consider acquiring flats if owners reached a high degree of consensus. The original plan involved HK$6.8 billion to buy back damaged homes.
