Hong Kong's Wang says 95% of Wang Fu Court acquisitions done, legislative recovery expected next year
Hong Kong's Deputy Financial Secretary Michael Wong says acquisition of Wang Fu Court is nearly 95 per cent complete. He expects legislative work to recover remaining titles to proceed next year, with about 800 owners having chosen units under a special sales scheme.
Hong Kong's Deputy Financial Secretary and acting Housing Authority Director Michael Wong said the acquisition of Wang Fu Court is nearly 95 per cent complete. Speaking on RTHK's programme Saturday Accountability, Wong noted that it is highly likely the remaining titles will be dealt with through legislation, and the authorities will discuss the matter with the Legislative Council.
Wong said it is definitely possible to recover the titles, but the government does not want to start that process yet to avoid confusion, as the acquisition work is still ongoing. Based on the current situation, legislative work is expected to take place next year.
Regarding the special sales scheme for Wang Fu Court owners, Wong said about 800 owners have already selected units. Out of the approximately 1,700 owners participating in the scheme, this represents nearly half. He added that there are still nearly 2,000 large units available for selection.
Wong noted that certain estates are more popular, such as those in Kai Tak, which are located in the urban area and are more convenient. The project at Pat Sin Leng Road in Fanling, which is a Housing Authority project and offers earlier occupation and a higher degree of renovation completion, is also well-liked. He estimated that further details will be provided after the sales work is completed next month.