Wang Fuk Court buyback plan disappoints some residents despite ‘generous’ offer

Some homeowners displaced by the deadly Tai Po blaze were disappointed by Hong Kong authorities’ decision to buy back their flats instead of resettling them at the original site, even as the acquisition offer was described by surveyors as “generous”.Deputy Financial Secretary Michael Wong Wai-lun unveiled the long-term resettlement plan on Saturday, offering options to buy back the flats at HK$8,000 or HK$10,500 (US$1,023 or US$1,343) per square foot.Homeowners could also opt for “flat-for-flat” exchanges, which will allow them to purchase a new subsidised flat from 10 designated projects under the Housing Authority or the Housing Society.But Wong ruled out redevelopment of Wang Fuk Court, which he said could take nine to 10 years.The inferno that engulfed seven of the estate’s eight towers last November killed 168 people and displaced about 5,000 residentsA former resident of the estate surnamed Ho who supports rebuilding told the South China Morning Post that many neighbours were angered by the proposal and felt authorities had ignored their views.