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The Hong Kong government has announced a clear path forward for the residents of Wang Chi House stating that its long-term relocation and buyout plan will officially proceed if at least 75 percent of homeowners in the fire-damaged block agree to the terms by June 30.
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The government revealed that it has successfully made preliminary contact with 99 percent of the homeowners in Wang Fuk Court's Wang Chi House.
Of those reached, approximately 77 percent have expressed an initial willingness to sell their property to the government, while about 1 percent have indicated they do not plan to accept the buyout offer.
Deputy Financial Secretary Michael Wong Wai-lun stated that these preliminary results show a high degree of consensus among homeowners in favor of the government's long-term settlement proposal. In response to this clear preference, the government has formalized the condition for the plan's activation.
Wong detailed that if the 75 percent threshold is met, the long-term settlement offer for Wang Chi House will be consistent with the plan already in place for the other seven blocks of the estate.
The acquisition price will be calculated based on the unit's saleable area.
For units that have not yet paid the land premium, the price will be set at HK$8,000 per square foot. For units where the premium has been paid, the government will offer HK$10,500 per square foot.
Residents who accept the offer will have the option to either receive a cash payout or choose a "flat-for-flat" exchange for a unit in a designated subsidized sale housing development.
𝗙𝗼𝗹𝗹𝗼𝘄 𝘁𝗵𝗲 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗼𝗳 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱↓
