Government sources say acquisition prices to range from about HK$8,000 to HK$10,000 per sq ft, higher than previously estimated
Government sources said the acquisition prices for properties without land premiums could be HK$8,000 (US$1,204) per sq ft, while properties with land premiums could exceed HK$10,000 per sq ft.
“The government is well aware of the importance of finalising a long-term rehousing plan for the residents as soon as possible. Deputy Financial Secretary Michael Wong Wai-lun will explain it as early as Saturday,” an insider said.
Wong chairs a government task force on emergency accommodation arrangements for those affected by the Tai Po blaze.
The proposal came three months after the deadly fire killed 168 people at Wang Fuk Court last November. In January, authorities launched a survey to gather the opinions of displaced residents concerning various long-term resettlement options.
The insider said only “a small percentage” of owners opted for redevelopment on the original site, hence the likelihood of the government adopting this option remained low.
