Chief Executive CY Leung says the target to build 17,000 subsidised housing units in Wang Chau remains unchanged, and the project's second and third phases will be launched as soon as the brown field issue can be solved.
Mr Leung told reporters before an Executive Council meeting today the shortage of land supply has pushed up property prices and rents in Hong Kong.
The Government has been committed to increasing land supply in the past four years and as a result the number of units to be completed in the coming three to four years has reached a record high, he added.
He said identifying land for development and reviewing the density of developed areas are common ways to increase land and housing supply.
