Government to Purchase Fire-Affected Apartments in Hong Kong, Providing Relief to Victims

Hong Kong – The Hong Kong Special Administrative Region (HKSAR) government announced on Sunday its plan to acquire ownership of units in seven buildings at Wang Fuk Court, which were damaged in a devastating fire that occurred in late November. The acquisition will be carried out through cash or property swaps, with an estimated total cost of approximately HKD 6.8 billion (around USD 870 million).

Speaking at a press conference, Michael Wong, Deputy Financial Secretary of the HKSAR government, said, “This step will provide relief to families affected by the fire. After the purchase, the government will bear all legal risks and uncertainties related to insurance and other procedures.” He clarified that one building at Wang Fuk Court that was not affected by the fire is not included in this plan.

Wong further stated that the government is considering demolishing all seven damaged buildings and developing the land into a park or community facilities. The government expressed confidence that this initiative will not only provide relief to victims who lost their families or were displaced by the fire but also create a safer living environment.