With the acquisition work for Wang Fuk Court moving at full speed, the government has begun issuing "Letters of Offer" to all homeowners across the eight blocks.
The authorities assured residents who accepted the offer a quick completion of the Agreement for Sale and Purchase and the Assignment, taking into account the circumstances of each case.
For owners who opt for a cash payout, fund disbursement will be arranged promptly after the transaction is completed , allowing residents to make purchases in the private market or the subsidized secondary housing market immediately.
As for owners choosing the alternative subsequent Special Sales Exercise, authorities stated that residents can acquire a new subsidized sale flat either by cash or under the "Flat-for-Flat" arrangement.
To encourage owners to accept the acquisition offer at an early stage, flat selection priority under the Special Sales Exercise will be determined in batches according to the date on which the duly signed "Letter of Acceptance" from the owners is received.
Notably, the first batch deadline is June 30, followed by a second batch deadline on August 31.
Regarding Wang Chi House owners, the authorities noted that if 75 percent or more of its residents sign the acceptance letter to confirm their intention to sell their ownership to the government by June 30, the long-term acquisition scheme will be formally extended.
For owners who do not sign by June 30 but later decide to sell, must also sign the "Letter of Acceptance" on or before August 31.
A government spokesperson said the dedicated Engagement Team has been reaching out to owners across all eight blocks to clarify details of the plans and answer questions.
Concurrently, the housing bureau is drafting the necessary legal documents to accelerate the overall process to help affected residents rebuild their homes.
The government reminded owners that regardless of which compensation option they choose, they must duly complete and sign the "Letter of Acceptance" enclosed with the "Letter of Offer" and return it to Wang Fuk Court Property Rights Acquisition Limited by using the enclosed return envelope (or other means as specified in the "Letter of Offer") on or before August 31. also sign the "Letter of Acceptance" on or before August 31.
