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Hong Kong Wang Fuk Court owners have until August 31 to accept buy-back
Hong Kong’s government says 91.9% of owners have submitted acceptance letters, but about 8% have not, with the deadline set for the end of August.
About eight per cent of homeowners at the fire-ravaged Wang Fuk Court in Hong Kong have yet to accept the government’s buy-back offer, which is set to expire at the end of this month, according to SCMP Economy. Chief Executive John Lee Ka-chiu said on Sunday that 91.9% of owners had submitted acceptance letters, while 65.7% had already signed sale and purchase agreements with the government. Owners have until August 31 to submit acceptance letters.
The blaze in November swept through seven of the estate’s eight blocks, killing 168 people and displacing about 5,000 residents. Lee said the transfer process was proceeding smoothly and in an orderly manner. After selling their flats and receiving compensation, owners may either buy a property on the open market or join a special sales programme to acquire a new subsidised flat, using cash or a flat-for-flat arrangement. Those who indicated their intention to sell by June 30 are eligible for priority flat selection under the programme.