Hong Kong (Reuters) – Hong Kong proposes spending about $512 million to buy the homes of the owners of a high-rise housing complex devastated by a massive fire three months ago, in order to resettle nearly 2,000 affected families.
Residents of Wang Fuk Court in Hong Kong’s northern Tai Po district have been struggling to find a new place to live.
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“We believe the proposed price is sufficient for affected residents to move in and secure long-term housing,” said Wong Wai-lun, Hong Kong’s deputy financial secretary, who added that selling the property to the government is “not mandatory.”
Total spending was reduced after a contribution from a relief fund and could be even lower after insurance compensation is included, officials said.
A Social Welfare Department survey last month showed that 74% of Wang Fuk Court owners would consider accepting the purchase of their property rights, while 9% would only accept reconstruction on the site, officials in the Asian financial hub said at a press conference.
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“It turns out that when formulating the government’s package, it is impossible to satisfy everyone’s desire,” Wong said.
The government has ruled out the possibility of using the original site for residential purposes in the future, but is considering building community facilities, such as a park, on the site.
The government also offered an apartment exchange program for the 4,600 affected tenants, who lived in nearly 2,000 housing units in the complex.
