Housing Bureau says ‘individuals with ulterior motives’ may be trying to confuse the public by claiming company is an ‘empty shell’
2-MIN READ2-MIN ListenWynna WongPublished: 9:07pm, 13 Jul 2026Hong Kong’s housing authorities have dismissed online rumours that a government-established company set up to acquire flats at fire-ravaged Wang Fuk Court is an “empty shell” at risk of bankruptcy, saying it has signed contracts with more than 550 owners.The Housing Bureau said on Monday that claims concerning “Wang Fuk Court Property Rights Acquisition Limited” were “entirely unfounded”.
“It cannot be ruled out that the allegations are made by individuals with ulterior motives to confuse the public. The government must set the record straight,” a bureau spokesman said, adding that funding for the acquisition programme would not fall short.
About HK$2.8 billion (US$357 million) will come from the Support Fund for Wang Fuk Court in Tai Po, while this year’s budget earmarked HK$4 billion in public funds for the acquisition of flats across all seven blocks affected by the deadly fire in November last year.
The government estimated that buying all flats in the unaffected Wang Chi House would cost an additional HK$1 billion, and would seek further funding from the Legislative Council’s Finance Committee on Friday, the spokesman added.
Authorities are signing formal sale and purchase agreements with owners who have returned letters accepting the government’s offers.
As of late June, more than 82 per cent of Wang Fuk Court flat owners had accepted the government’s buy-back offers.
