Wang Fuk Court on-site residential redevelopment ruled out as impractical

The government has begun consulting Wang Fuk Court residents on long-term rehousing arrangements through a survey, after ruling out on-site redevelopment as impractical and costly.

The government is now seeking residents' views on several options for the permanently damaged Wang Fuk Court estate in Tai Po, including outright government buyout of ownership, in-situ redevelopment elsewhere in the district, flat-for-flat exchange, and priority purchase of subsidized housing units.

Deputy Financial Secretary Michael Wong Wai-lun stated this morning that on-site reconstruction would be unrealistic, requiring nine to ten years due to complex ownership and demolition procedures, and could cost up to HK$60 billion in public funds based on rough valuation estimates.

He explained that government acquisition of ownership is one key option, allowing owners to receive cash compensation for flexible use.

Using reference figures from the Hong Kong Institute of Surveyors, uncompleted premium units are valued at around HK$6,000 per square foot and completed premium units at HK$8,000, leading to the estimated total cost. Public money would be needed beyond the remaining balance of the Support Fund for Wang Fuk Court in Tai Po.

Wong described the estate's situation as exceptionally severe: seven blocks are badly damaged, no longer suitable for long-term living, and have lost normal market tradability. Without government intervention, residents face significant hardship.

He added that the current site will not be redeveloped for housing but repurposed for community facilities to serve Tai Po and New Territories East residents.

Among district-based rehousing proposals, the fastest option is redevelopment at the site of Chung Nga Road West, which could provide about 900 units with first occupation expected in 2029.

Additional land nearby may yield another 600 units, for a combined total of around 1,500.

The survey also includes a flat-for-flat option to accommodate families who prefer not to handle large cash sums.

Deputy Chief Secretary for Administration Warner Cheuk Wing-hing noted that the Wang Fuk Court aid fund has raised about HK$4.3 billion and spent around HK$1.2 billion so far, leaving roughly HK$3 billion in balance.

The fund's terms allow its use for long-term housing needs, making it a major potential source for future rehousing plans.