Hong Kong housing chief on Thursday reassured homeowners that the Wang Fuk Court acquisition will not involve funds held in owners’ corporation or maintenance accounts.
Her remarks came as the Hong Kong government is planning to spend HK$6.8 billion to acquire ownership of seven blocks at Wang Fuk Court affected by a major fire, as part of its broader resettlement plan for residents.
Secretary for Housing Winnie Ho Wing-yin said the government’s buyout proposal covers only property ownership and does not include any remaining balances in the owners’ corporation accounts or maintenance funds, which will remain with property owners.
In a social media post on Thursday, Ho said a cross-departmental outreach team of more than 100 members, coordinated by the Housing Bureau, has been contacting households since March 2 through a “one household, one social worker” approach.
She said the team has been explaining in detail the available long-term housing arrangements and addressing residents’ concerns, with the outreach effort still ongoing.
Ho noted that some owners had asked about the handling of funds in the owners’ corporation and maintenance accounts if they choose to sell their flats to the government. The property management company has also relayed residents’ concerns and inquiries to the authorities.
She stressed that the government has no intention of acquiring these funds, describing the move as a reassurance to residents.
“The relevant interests will be retained by the owners,” she said.
The government had earlier made clear that, in acquiring ownership of the seven fire-damaged buildings, it would also take over any potential compensation from building fire insurance policies. Ho acknowledged that this involves legal complexities and uncertainties, which the government is prepared to handle as part of the process.
She added that the bureau is now preparing the necessary legal documents for the acquisition, which will clearly set out the scope of ownership transfer and related interests.
The outreach team will continue to support residents and provide further explanations as details are finalized, she said.
