Hong Kong Plans $512 Million Buyout After Deadly High-Rise Fire

Post by : Saif Nasser

The Hong Kong government has announced a major plan to help families affected by a tragic high-rise fire that killed more than 160 people last November. Officials said the government will spend about HK$4 billion, or roughly $512 million, to buy homes damaged in the disaster.

The fire happened at the Wang Fuk Court housing complex in Tai Po. The blaze left deep scars on the tall buildings and caused great pain for hundreds of families. Many residents lost loved ones, homes, and their sense of safety.

To support those affected, the government is offering to buy the damaged apartments from owners. Officials said they will pay HK$8,000 per square foot for units that do not require a land premium payment. For those that do require such a payment, the price will be HK$10,500 per square foot.

Deputy Financial Secretary Wong Wai-lun said the proposed prices are fair and should allow residents to move and secure long-term housing. He stressed that the government wants to help families rebuild their lives as quickly as possible.

The housing complex had nearly 2,000 units and was home to about 4,600 tenants. For those who lived in rental units, the government is offering an apartment exchange program. This means tenants can move into other public housing units instead of receiving cash.

The total cost of the relief effort is expected to reach HK$6.8 billion. However, officials said this amount will be reduced by HK$2.8 billion from a relief fund contribution. The final cost may drop further once insurance payments are included.

This buyout plan shows that the government is taking strong steps to respond to one of the city’s worst housing disasters in recent years. Still, the tragedy has raised serious questions about building safety and fire prevention in crowded urban areas. Many residents and experts are calling for stricter safety checks and stronger building rules to prevent such disasters in the future.

Fires in high-rise buildings can spread quickly and cause heavy damage. In cities like Hong Kong, where many people live in tall and closely packed buildings, safety measures are especially important. Regular inspections, proper maintenance, and clear evacuation plans can save lives.

The emotional impact of the Wang Fuk Court fire remains strong. Burned towers now stand as a reminder of the lives lost and the families changed forever. While financial support can help people find new homes, it cannot fully heal the pain caused by the tragedy.

In the months ahead, the focus will be on rebuilding. Families will look for stability, and the city will reflect on how to protect its people better. The government’s plan is a first step, but long-term safety improvements will be just as important.