Deadline Approaches: 8% of Hong Kong Fire-Hit Estate Homeowners Decline Buy-Back Offer

POLICY WIRE — Hong Kong — Approximately eight percent 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.

Chief Executive John Lee Ka-chiu stated on Sunday that 91.9 percent of owners had submitted acceptance letters, while 65.7 percent of owners had already signed sale and purchase agreements with the government.

Lee made the remarks following a town hall meeting aimed at gathering public views on the city’s first five-year plan and other policy initiatives. The government has been actively engaging with affected homeowners to facilitate the compensation process.

The fire, which occurred earlier this year, caused significant damage to the residential complex, prompting the government to offer compensation to affected homeowners. The buy-back offer is part of a broader effort to address the aftermath of the disaster — and support those impacted.

Homeowners who haven’t yet accepted the offer are urged to do so before the deadline to ensure they receive the appropriate compensation. The government has set up multiple channels for homeowners to submit their acceptance letters and sign the necessary agreements.

Reporting by Policy-Wire (PW)