Sat Feb 21 21:56:43 UTC 2026: ### Hong Kong Government Proposes Buyout of Fire-Ravaged Wang Fuk Court

The Story:
The Hong Kong government has proposed a HK$4 billion (US$512 million) buyout of the fire-ravaged Wang Fuk Court apartment complex in the Tai Po district, following a deadly fire in November 2025 that claimed 168 lives. The proposal aims to resettle nearly 2,000 affected households, offering HK$8,000 per sq ft without a land premium payment, and HK$10,500 per sq ft for those receiving such a payment. While not mandatory, the government believes the prices are sufficient for residents to relocate.

The government has ruled out future residential use of the site, considering community facilities like a park instead. An apartment exchange program is also offered to the 4,600 affected tenants, providing 3,900 housing units across 10 subsidised housing projects.

Key Points:

  • Hong Kong government proposes a HK$4 billion buyout of Wang Fuk Court.
  • The fire in November 2025 resulted in 168 deaths.
  • Approximately 2,000 households will be resettled.
  • Buyout prices offered are HK$8,000/sq ft or HK$10,500/sq ft depending on land premium payment status.
  • 74% of Wang Fuk Court owners are considering the buyout, while 9% prefer on-site redevelopment.
  • An apartment exchange program offers 3,900 housing units for 4,600 affected tenants.
  • The government is considering building community facilities on the site.

Key Takeaways:

  • The Hong Kong government is prioritizing the resettlement of residents displaced by the devastating fire.
  • The financial package includes a significant buyout offer and an apartment exchange program, attempting to address varied resident needs.
  • The government’s decision to not rebuild residential units on the site suggests a long-term reassessment of safety and urban planning in the Tai Po district.

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