HK Announces $870 Million Plan to Buy Back Flats in Tai Po Fire

Hong Kong officials unveiled an $870 million (HK$6.8 billion) buyback plan for residents displaced by the 2025 Wang Fuk Court fire in Tai Po. The proposed acquisition prices exceed initial estimates, offering higher compensation to homeowners who lost properties in the blaze. The initiative targets Wang Fuk Court, a public housing estate severely damaged in last year’s fire, marking one of the city’s costliest disaster recovery efforts. Officials cited fair compensation and housing stability as key motivations, aiming to expedite rebuilding and support affected families. The announcement follows prolonged negotiations, reflecting the government’s effort to balance fiscal responsibility with urgent relief for displaced residents.