In response to a catastrophic fire incident on November 26 that claimed 168 lives, Hong Kong authorities announced plans to offer compensation to residents whose apartments were destroyed. During a press conference, Deputy Financial Secretary Michael Wong revealed that affected individuals would receive compensation ranging from 2.8 to 4.1 million kroner, which is anticipated to help them secure permanent housing. The government emphasizes that these funds are intended to facilitate relocation rather than rebuilding the apartments that were lost.

The fire, described as the worst in decades for the city, ravaged a residential complex and spread rapidly through seven high-rise buildings, causing unprecedented damage and loss of life. The tragic event has led the Hong Kong government to reassess housing options in the area. Instead of reconstructing the burned-out buildings, officials plan to redevelop the site for public use, which may include the construction of public buildings or parks, reflecting a shift in focus towards community-oriented solutions.

Financially, the government estimates that it will allocate approximately 5.5 billion kroner for the acquisition of these burned-out apartments, indicating a significant investment in addressing the aftermath of this disaster. This initiative illustrates the government's commitment to managing the impact of such tragedies on its citizens, while also hinting at broader urban planning strategies that may shape Hong Kong's future housing landscape.