'Wang Fuk buy-back offer deadline won't be extended'

The deadline for Wang Court homeowners to accept the government's acquisition offer will not be extended, Deputy Financial Secretary Michael Wong announced on Sunday. As of Friday, nearly 95 percent of the 1,878 households had submitted their acceptance letters, while 74 percent had signed sales and purchase agreements with the government.

The final submission deadline is the end of the month. Wong emphasized that any delay would disrupt the government's broader resettlement plan, stating that if the timeline were shifted, it would impact other work. He also dismissed rumors that the government intends to build high-rise developments for profit after acquiring Wang Fuk Court, describing such speculation as a "vicious" attempt to undermine the scheme.

On a radio programme, Wong's counterpart, Secretary for Housing Winnie Ho, revealed that a ballot would be conducted to determine the flat selection order. Residents will gradually receive letters in early September, with each assigned a number. Around mid-September, a computerized random draw will be held. Approximately a week after the draw, messages will be sent to arrange flat selection, with the process expected to commence at the end of September.

Recognizing that many Wang Fuk Court residents are elderly and unfamiliar with property transactions, Ho assured that ample time would be provided for flat selection. She noted that while the bureau typically processes 140 to 150 subsidized flat sales daily, it will limit the daily volume to 50 to 60 for Wang Fuk Court. Of the 330 homeowners who opted for cash compensation instead of the flat-for-flat arrangement, 330 have completed the necessary procedures and received their payouts.