Hong Kong Plans Demolition and Buyout After Deadly Inferno
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The Hong Kong government announced plans to acquire seven residential towers severely damaged by a deadly fire for approximately HK$6.8 billion ($874 million), offering displaced owners a premium buyout to permanently resettle them.
Unveiled on Saturday, the proposal covers 1,736 units in Wang Fuk Court, where a catastrophic blaze in November 2025 left the structures uninhabitable.
The acquisition marks an exceptional intervention following one of the city’s deadliest disasters, which claimed 168 lives and displaced more than 4,000 residents, prompting authorities to demolish the site rather than attempt repairs.
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- The Hong Kong government will buy seven fire-damaged residential towers in Wang Fuk Court for HK$6.8 billion, offering owners 30% above pre-fire value.
- The November 2025 blaze killed 168 people, displaced over 4,000, and made the buildings irreparable; the site will be demolished and repurposed.
- Displaced residents can choose premium cash buyouts or subsidized housing; 2,400 new units are reserved with occupancy from late 2026.
- Before November 2025：
- Wang Fuk Court’s market value hovered around HK$6,000 and HK$8,000 per square foot for units with unpaid land premiums and those settled on the open market, respectively.
- November 2025：
- A catastrophic blaze occurred at Wang Fuk Court, Hong Kong, claiming 168 lives and displacing more than 4,000 residents; the seven residential towers were rendered uninhabitable.
- February 2026：
- Structural analysis revealed extensive, irreparable damage to the seven towers caused by the fire, leading the authorities to determine that the buildings must be demolished.
- February 21, 2026：
- The Hong Kong government officially unveiled its proposal to acquire the seven residential towers in Wang Fuk Court for approximately HK$6.8 billion and permanently resettle the displaced owners.
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