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

2026-02-22 05:14:40

The Hong Kong SAR Government held a special press conference on the long-term residence 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 for the acquisition is HKD 8,000 (excluding land premium) and HKD 10,500 (including land premium), with a total acquisition cost of approximately HKD 6.8 billion. After the acquisition is completed, the government plans to demolish and rebuild Building 7 of Hong Fu Court, which was affected by the disaster, into parks and other facilities. (CCTV News)

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