Hong Kong residents impacted by last November's devastating Wang Fuk Court fire can breathe a sigh of relief as the HKSAR government rolls out a major buyout plan. With an estimated cost of 6.8 billion HKD (≈$870M USD), the initiative offers cash payments or property swaps to affected residents in seven fire-damaged buildings. 💸
Rebuilding Trust, Reimagining Spaces
Deputy Financial Secretary Michael Wong confirmed the government will absorb all legal risks and insurance uncertainties, calling it a "critical step toward healing." The unaffected eighth building is excluded from the plan.
From Ashes to Green Spaces? 🌳
Officials are considering demolishing the damaged structures to create public parks or community facilities—a move praised by urban planners as a "forward-thinking use of space." Final decisions are expected by late 2026.
