Hong Kong plans to buy homes devastated in deadly high-rise fire

In a significant move following a tragic high-rise fire that claimed 168 lives in November, Hong Kong authorities are set to purchase homes in the affected area. The government has announced that compensation will be offered at HK$8,000 per square foot without a land premium payment, and HK$10,500 per square foot for those eligible for such payments. This initiative aims to address the housing crisis exacerbated by the fire and provide support to the victims' families and affected residents. The decision reflects the government's commitment to rebuilding the community and ensuring that those impacted have access to safe housing. This plan comes at a crucial time, as the city grapples with the aftermath of the disaster and seeks to restore normalcy for its residents. The high-rise fire has raised questions about safety regulations and emergency preparedness in urban developments, prompting calls for stricter enforcement and better safety measures in the future.