Hong Kong government maintains August 31 deadline for Wang Fu Yuen acquisition

The Hong Kong government has confirmed that the deadline for the Wang Fu Yuen property acquisition plan will not be extended beyond August 31. Deputy Financial Secretary Wong Wai-lun stated that 94.7% of owners (1,878 households) have signed the acquisition proposal, while 74.1% have signed sales contracts.

For the remaining 5.3% of residents who have not signed, the government emphasized that the current offer—providing $8,000 per square foot for uncompensated units and $10,500 for compensated units—is significantly higher than pre-fire valuations. Wong noted that any delay in the process would hinder the overall progress of resolving housing needs for affected residents.

Regarding Wang Chi Court, 91.5% of residents have accepted the acquisition proposal, with 67.7% having signed sales contracts. The government addressed concerns regarding data transparency, asserting that figures are strictly verified and that owner identities will remain private to protect personal privacy.

If owners fail to register by the August 31 deadline, their properties will revert to general market mechanisms. While legal means to forcibly recover ownership remain a potential future option, officials indicated this would only be considered at a later stage, potentially as early as 2027.