Hong Kong SAR Government Announces Long-term Housing Arrangement Plan for Tai Po Hong Fuk Court

2026-02-22 08:19:20

Chui Yige

People’s Daily Online Hong Kong, February 21 (Reporter Feng Xuezhi) The Hong Kong SAR Government held a press conference on the afternoon of February 21, announcing the long-term residential arrangement plan for Hong Fu Court in Tai Po, proposing to acquire property rights through cash or a “trade-up” scheme.

Deputy Financial Secretary of the Hong Kong SAR Government, Huang Wei-lun, stated that the government will acquire the property rights of 1,736 units in Buildings A—G of Hong Fu Court, which are affected by the disaster. The purchase price per square foot for units not yet compensated and those already compensated is HKD 8,000 and HKD 10,500 respectively. If all acquisitions are completed, the total cost will be approximately HKD 6.8 billion, of which the “Tai Po Hong Fu Court Assistance Fund” can cover HKD 2.8 billion, and public funds will need to contribute about HKD 4 billion.

He explained that the seven affected buildings of Hong Fu Court will be demolished, and the government plans to rebuild parks or community facilities.

Housing Authority Chief Executive Officer Ho Wing-yin stated that if owners choose the “trade-up” method, they will receive a “trade-up voucher” worth the same as their original property in Hong Fu Court. The government will launch a “Special Sale Scheme” covering 3,900 residential units, allowing owners to use the voucher to select units within the scheme. If they choose a smaller unit, the remaining value will be refunded in cash; if they choose a larger unit, they will need to pay the difference themselves.

Huang Wei-lun said that based on preliminary data collected from previous surveys, among the 1,975 Hong Fu Court households who submitted opinions, 74% indicated they would “consider accepting” the government’s property rights acquisition scheme. He emphasized that the government will continue to follow up and respect residents’ wishes, balancing reason, law, and emotion to develop a more comprehensive long-term support plan.

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