Hung Fuk Court Acquisition Owners to Receive Selection Numbers in Early September
On.cc · 1 SOURCESabout 2 hours ago2 MIN
Summary
The first batch of Hung Fuk Court owners who signed acceptance of acquisition letters by June 30 will receive their allocation numbers in early September, with computerized random selection scheduled for mid-September to determine the picking order. Housing Bureau Director Ho Wing-yin announced that picking could begin as early as late September, with about 50 to 60 households accommodated daily alongside dedicated support teams. Deputy Financial Secretary Andy Chan Wai-lun clarified that residents who fail to find suitable units during the September to November selection period can opt for direct cash compensation, receiving a two-year Green Form qualification to purchase second-hand Home Ownership Scheme units.
Key Points
- The Housing Bureau will mail allocation number notifications to eligible owners in early September, followed by computerized random selection in mid-September to establish picking order .
- Approximately 50 to 60 households will be scheduled for daily unit selection, with dedicated explanation teams available to accompany residents throughout the process .
- The special sales scheme encompasses 10 projects featuring varying completion dates, locations, unit sizes, and fitting specifications to match diverse family budgets and life plans .
- So far, 330 households have completed property rights transfer procedures and received cash compensation, with a few purchasing units through the Green Form secondary market .
- For residents with outstanding mortgages, the Hong Kong Monetary Authority and the Banking Association have established a dedicated task force with over 10 banks providing specialized staff to facilitate collateral transfer to new units .
Why It Matters
This acquisition program represents a significant urban renewal initiative that will transform the Hung Fuk Court site into a park with community facilities, directly impacting hundreds of families' housing security. The comprehensive support structure—including dedicated daily quotas, translation teams, and mortgage assistance—demonstrates the government's commitment to managing involuntary displacement sensitively while maintaining transparency in the selection process .
This acquisition program represents a significant urban renewal initiative that will transform the Hung Fuk Court site into a park with community facilities, directly impacting hundreds of families' housing security. The comprehensive support structure—including dedicated daily quotas, translation teams, and mortgage assistance—demonstrates the government's commitment to managing involuntary displacement sensitively while maintaining transparency in the selection process .