Deputy Financial Secretary – Charm

Hong Kong to spend HK$6.8 billion buying back fire-ravaged Tai Po flats

4 hours ago02 mins

Hong Kong authorities will spend about HK$6.8 billion (US$870 million) to buy back homes damaged in the deadly Tai Po fire from flat owners, offering HK$8,000 to HK$10,500 per square foot as part of a long-term resettlement plan involving HK$4 billion in public funds. Deputy financial secretary Michael Wong Wai-lun unveiled the plan on Saturday,…

Hong Kong fire victims willing to sell flats to government: John Lee

2 weeks ago02 mins

A significant portion of flat owners at the fire-ravaged Tai Po estate are inclined to sell their properties to the government as part of a long-term rehousing plan, Hong Kong’s leader has said. Chief Executive John Lee Ka-chiu on Tuesday also pointed out several key challenges in resettling thousands of residents displaced by the inferno…