A group of Wang Fuk Court residents float ‘profit-making’ in-situ rebuilding plan
Proposal calls for rebuilding half of estate’s eight blocks with higher plot ratio, suggesting government can earn HK$6.4 billion
A redevelopment proposal representing the interests of more than 400 fire-displaced residents has been submitted to the Hong Kong government, claiming that a partial redevelopment of Wang Fuk Court could generate a HK6.4 billion (US$816.7 million) surplus.
The 47-page proposal, alongside two letters, was sent to the Chief Executive John Lee Ka-chiu, Deputy Chief Secretary Warner Cheuk Wing-hing, Deputy Financial Secretary Michael Wong Wai-lun, housing minister Winnie Ho Wing-yin, and home affairs minister Alice Mak Mei-kuen on Wednesday.
The group stressed that the proposal was not meant to replace the current rehousing plan, but rather to serve as a parallel option for residents.
“We are fully aware of the length of redevelopment, and we have absolutely no wish to be a burden on the public coffers,” it said.
“We have conducted two in-depth studies and found as many as 427 residents explicitly stated that they did not want compensation or to be rehoused, but only to return home.
“Based on this solid foundation of public opinion, we urged the government to explore the feasibility of rebuilding three to four new blocks on the original site.”