Hong Kong: Planning to acquire Hong Fu Yuan property rights from owners through cash or property-for-property exchange

2026-02-21 13:19:20

According to CCTV News, the Hong Kong SAR government held a special press conference on the long-term residence arrangement for Hong Fu Court on the 21st. Deputy Financial Secretary Huang Wei-lun stated that the SAR 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 SAR government proposed an average price per square foot (1 square foot is approximately 0.0929 square meters) of 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 completing the acquisition of the property rights, the SAR government plans to demolish and rebuild Block 7 of Hong Fu Court into parks and other facilities. (CCTV reporter Zhou Weiqi)

Editor: Liu Jiani

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