Hong Kong Business News

The Legislative Council Finance Committee today approved an extra $1 billion in funding to provide long-term housing arrangements for the flat owners of Wang Chi House (Block H) at Wang Fuk Court in Tai Po.

Together with $2.8 billion from the Support Fund for Wang Fuk Court in Tai Po and $4 billion earmarked under the 2026-27 Budget for the acquisition of Blocks A to G, the long-term housing plan will now cover all eight blocks of the estate.

Deputy Financial Secretary Michael Wong thanked the committee for the approval, stressing that the Government will advance the acquisition work at full speed.

As of yesterday, 90% of owners had submitted signed Letters of Acceptance. This includes 1,565 letters from Blocks A to G (90.1% of flats) and 221 letters from Block H (89.1% of flats).

The Government has already signed Agreements for Sale & Purchase with 769 owners, representing 43% of those who submitted acceptance letters.

Addressing residents’ concerns about retrieving personal belongings after transferring property titles to the Government, Mr Wong said those with special needs can make requests through the Engagement Team and the “one social worker per household” service.

He explained that the general direction is to allow residents to return and collect necessary belongings to facilitate their relocation as far as possible.