Wang Fuk Court buyout passes 90pc before deadline
Thestandard · 2 SOURCES41 minutes ago2 MIN
Summary
More than 90 percent of homeowners at fire-damaged Wang Fuk Court have returned acceptance letters for the government buyout offer ahead of the August 31 deadline, with officials later putting the figure at 94.7 percent, or 1,878 households. Owners who join the acquisition can also take part in a special sales exercise covering 10 subsidized housing projects, with flat selection due to start in September.
Key Points
- Secretary for Housing Winnie Ho Wing-yin said in a social media post that the return rate for signed acceptance letters had exceeded 90 percent before the August 31 deadline.
- Deputy Financial Secretary Michael Wong Wai-lun later said 1,878 households, or 94.7 percent, had submitted acceptance letters, while 74.1 percent had signed sale and purchase agreements.
- At Wang Chi House, the only block not directly affected by the fire, 91.5 percent of owners signed acceptance letters and 67.7 percent signed formal sale contracts.
- About 100 households, or 5.3 percent, had not accepted the offer, and Wong said those missing the month-end deadline would be treated as non-participants.
- Owners who sell and receive compensation can choose from 10 subsidized housing projects, including Sierra Terrace and Hemma Sapphire, with more than 2,800 units above 400 square feet.
Why It Matters
The government says the buyout is meant to meet affected residents' housing needs quickly, and Michael Wong has ruled out any extension or higher offer because the acquisition still requires Legislative Council funding approval. Priority in the special sales exercise will depend on when signed acceptance letters are received, with batch deadlines on June 30 and August 31 and flat selection beginning in September.