Rebuilding fire-ravaged Wang Fuk Court ‘not practical’, Hong Kong officials say

Hong Kong authorities estimate that acquiring all homes in fire-ravaged Wang Fuk Court in Tai Po will cost about HK$6 billion (US$770 million), with officials saying that rebuilding on the site is “not really very practical”. The acquisition cost for flats on the housing estate was revealed on Saturday as an economist called on the government to invest funds donated to help residents, to generate returns that could bridge the financial gap for those waiting for new flats. Deputy Financial...