Hong Kong authorities will continue to provide an annual rental subsidy of HK$150,000 (US$19,193) to victims displaced by the deadly Tai Po blaze, even if they can only move into their new homes 2½ years later under the “flat-for-flat” resettlement scheme, a senior official has said. Deputy financial secretary Michael Wong Wai-lun also said on…
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,…
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…