Wang Chi House owners qualify for buyout plan

Officials announced on Friday that more than 75 percent of homeowners of the only building in Wang Fuk Court not directly hit by last year's inferno are in favour of selling their flats, making them eligible for a government buyout plan that also covers the other seven damaged blocks. According to the government, 77.8 percent of homeowners of Wang Chi House have signed a "Letter of Acceptance" confirming their intention to sell their titles, exceeding the 75 percent threshold of the buyout. "The feedback from Wang Chi House owners has been encouraging and positive, reflecting that the long-term housing arrangement plan offered by the government is attractive and can effectively assist owners in resolving the various uncertainties and complexities that they are facing," a spokesman said in a statement. The government said earlier three-quarters of Wang Chi House owners must indicate their interest to sell by June 30 for the offer to be binding. As for the other seven blocks, 78.4 percent of homeowners had signed letters of acceptance as of Friday. "The acquisition work has been making good progress," the government spokesman said. Owners can opt for a cash payment or flat-for-flat arrangement. Edited by Edmond Fong