More than a quarter of homeowners at the fire-hit Wang Fuk Court have signed contracts to sell their flats to the government, with funds already disbursed to homeowners of two units.
Wang Fuk Court seen in the distance on April 20, 2026. Photo: Kyle Lam/HKFP.
As of July 10, more than 550 owners at Wang Fuk Court have signed a formal sale and purchase agreement with a company set up by the government under a special property buyout scheme, the Housing Bureau said on Monday.
That amounts to some 28 per cent of the total 1,984 households at the estate.
The government announced the buyback scheme in February, after a blaze tore through seven residential towers at Wang Fuk Court in Tai Po on November 26 last year, killing 168 people and displacing thousands.
The bureau said on Monday that it was “sparing no effort” to complete the procedures for transferring ownership as soon as possible. The procedures for two units have been completed, and payments have been made to the former owners, it said.
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Under the buyout scheme, owners will be able to purchase a new home on the private market or move to a subsidised estate, either through cash or a flat-exchange exercise.
Last month, the scheme was extended to Wang Chi House, the only building at the estate spared by the fire.
More than 77 per cent of the homeowners in that tower signed a letter of acceptance to indicate they were willing to sell their homes.
Homeowners will have until August 31 to express interest in the buyout scheme.
Bankruptcy claims ‘unfounded’
The bureau also said claims that the company set up by the government to acquire ownership of the estate was a near-bankrupt shell company were “entirely unfounded.”
Wang Fuk Court residents return to the estate on May 4, 2026. Photo: Kyle Lam/HKFP.
Acquiring the Wang Chi House flats will cost HK$1 billion, on top of the HK$4 billion earmarked for the other seven towers. The government will seek Legislative Council approval for the extra HK$1 billion on Friday.
“It cannot be ruled out that the allegations are made by individuals with ulterior motives to confuse the public. The Government must set the record straight,” the bureau said.
The bureau also said that the purpose of an indemnity provision in the sale agreement is to “require owners to make legally binding declarations and confirmations regarding the title status of their properties before the completion of the transaction.”
That includes confirmation that the owner is the sole owner of the property, that it is free from any third-party interests or rights of occupation, and that that the property is not subject to any civil proceedings or claims.
“This arrangement serves to ensure that the buyer obtains a clean and undisputed title after completion of the transaction,” the bureau said.