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Michael Wong Considers Current Wang Fuk Court Buyback Plan Attractive, Open to Discussing Inclusion of Wang Chi House
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The Hong Kong government has recently announced that it will spend about HKD4 billion in public funds to buy back ownership of seven buildings in Wang Fuk Court. The buyback plan will offer HKD8,000 per square foot for units without a premium paid and HKD10,500 for those with a premium paid. Michael Wong, Hong Kong's Deputy Financial Secretary, confessed on a radio program that designing a plan that fully satisfies every homeowner is a difficult task, but he believes the current proposal is quite attractive with multiple options. Regarding Wang Chi House, a building unaffected by the fire, being excluded from the rehousing plan, Wong explained that the building still requires a series of follow-up works, and its residents are expected to return to their homes in about three to four months at the earliest. If the homeowners of Wang Chi House reach a high level of consensus, Wong stressed the government is willing to explore the possibility of including Wang Chi House in the buyback plan, and the purchase price will be the same as that for the other seven buildings. AAStocks Financial News |
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