Initial support for HK$1 billion buyback of block unscathed in Tai Po blaze

Nearly 80 per cent of homeowners of the only block spared in the deadly Wang Fuk Court blaze in Hong Kong have expressed an initial willingness to sell their flats to the government, exceeding the three-quarters threshold set by authorities to extend a resettlement plan to them.

Deputy Financial Secretary Michael Wong Wai-lun said on Tuesday that buying back the 248 flats at Wang Chi House would cost the government about HK$1 billion (US$127.6 million), on top of the roughly HK$6.8 billion needed to purchase the homes in the seven towers destroyed in the blaze.

He said housing authorities had contacted about 99 per cent of Wang Chi House homeowners and about 77 per cent had so far indicated their initial interest in joining the long-term resettlement plan by selling their property rights to the government.

“If at least three-quarters, that is 75 per cent, of the Wang Chi House homeowners sign a letter of acceptance for the acquisition proposal by June 30, the government’s long-term plan will be officially opened to Wang Chi House homeowners. Otherwise, the long-term plan will not include Wang Chi House,” he said.

“We think the threshold of three-quarters, or 75 per cent, reflects the government’s earlier requirement that the homeowners of Wang Chi House reach a high degree of consensus.”

Wong said those who signed the letter by June 30 would enjoy priority in flat selection under the special sales exercise, while those who decided to sell their flats later would have to sign it by August 31.