Hong Kong announces Long-term Residential Arrangement Plan for Hong Fu Court

2026-02-21 10:42:25

The Hong Kong SAR Government held a special press conference on the long-term residential arrangement for Hong Fu Court on the 21st. Deputy Secretary for Finance, Wong Wai-lun, stated that the government plans to acquire the property rights of Hong Fu Court owners either with cash or through a building-for-building exchange, which is the fastest solution. The proposed average price per square foot (1 square foot approximately equals 0.0929 square meters) for the acquisition is HKD 8,000 (without land premium) and HKD 10,500 (with land premium), with a total acquisition cost of about HKD 6.8 billion. After acquiring the property rights, the government plans to demolish and rebuild Block 7 of Hong Fu Court, which was affected by the disaster, into parks and other facilities. (CCTV News)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.