The Government stated today that the issuance of “Letters of Offer” to owners of units at Wang Fuk Court in Tai Po is now under way.
The move comes after the Government unveiled its Wan Fuk Court Long-term Housing Arrangements plan on February 21, and announced supplementary arrangements for owners of units at Wang Chi House on April 28.
With the addition of Wang Chi House, the only block that was untouched by last November’s fire, all eight blocks of Wang Fuk Court are addressed by the plan.
The Housing Bureau has been working at full speed, with its engagement team reaching out to owners to explain the details of the plan and answer their enquiries.
It is also concurrently drafting legal documents necessary for the Government’s acquisition of the units. The Government’s Letters of Offer provide a range of options for owners.
Upon receipt of each signed “Letter of Acceptance”, the Government will assist owners in completing an “Agreement for Sale & Purchase” and a “Deed of Assignment”, taking into account the circumstances of each case.
For owners who opt for cash payment, the Government will expedite the disbursement of funds upon completion of the transaction. This will enable them to immediately make purchase arrangements in the private market or the secondary market for subsidised sale flats, or to participate in the “Special Sales Exercise” for Wang Fuk Court owners to acquire a new subsidised sale flat either with cash or under the “Flat-for-Flat” arrangement.
Wang Fuk Court Property Rights Acquisition, a company established by the Government and wholly owned through the Financial Secretary Incorporated for the purpose of acquiring ownership of Wang Fuk Court units, will distribute the Letters of Offer owners by mail.
Any owner who has not received a Letter of Offer by May 22 can call the plan’s enquiry hotline at 2129 8133.
Owners who accept an acquisition offer must complete and sign the Letter of Acceptance enclosed with the Letter of Offer sent to them. They must return it to Wang Fuk Court Property Rights Acquisition, using the enclosed return envelope, on or before August 31.
With regard to Wang Chi House, if on or before June 30 75% or more of the block’s owners sign Letters of Acceptance, confirming their intention to sell, the Government’s plan will be formally extended to Wang Chi House. Otherwise, it will not cover Wang Chi House.
Owners who do not sign by June 30, but later decide to sell, must sign a Letter of Acceptance on or before August 31.
To encourage owners to accept the acquisition offer at an early stage, flat selection priority under the Special Sales Exercise will be determined in batches according to the date on which owners’ Letters of Acceptance are received. The deadline to qualify for the first batch is June 30, while the deadline for the second batch is August 31. Priority within the same batch will be determined by a ballot.
Owners who have enquiries regarding the Letter of Offer or who require assistance can contact their designated engagement team member directly or call 2129 8133.
