Deadly Hong Kong blaze causes over $640 million in damage

The fire at the Wang Fuk Court residential complex in the Tai Po district of Hong Kong has caused more than HK$5 billion (over $642 million) in damages, experts told the South China Morning Post.

The blaze, which started on November 26 and was extinguished only on November 28, completely destroyed 1,736 apartments along with all their contents. Seven of the eight high-rise buildings in the complex were engulfed by flames, spreading via construction scaffolding and bamboo structures installed for building repairs. At least 160 people were killed, and approximately 5,000 residents were left homeless.

Experts note that the estimated damages do not include losses from cancelled events due to the mourning period. Hong Kong Disneyland suspended parades and fireworks from November 27 to December 8, a concert by singer Karen Mok at the 50,000-seat stadium was cancelled, and restaurants and catering businesses reported numerous order cancellations. The hospitality sector also faced widespread booking cancellations.

By Khagan Isayev