(To watch the full press conference with sign language interpretation, click here.)

Secretary for Development Michael Wong announced the Government's 2020-21 Land Sale Programme today.

Fifteen residential sites are on the list. Three are on Hong Kong Island, two are in Kowloon and 10 are in the New Territories. They will provide about 7,530 units.

There will be three railway property development projects - two in Wong Chuk Hang and one in LOHAS Park which will provide about 4,050 flats.

Land supply from various sources will provide an estimated 15,730 units in 2020-21, while the private housing land supply target is 12,900 flats.

There will be six commercial sites put up for sale this year, which will yield about 833,700 sq m of gross floor area in total.

One of the sites, the New Central Harbourfront Site 3 will be put up for sale by two-envelope tender instead of cash tender.

"We are talking about a site of about five hectares. Actually, more than half of the site, in terms of area, will be devoted to public space, landscape decks. It also will contribute enormously to enhancing the connectivity between the harbourfront and 'inner' part of Central, if I can use that word," Mr Wong said.

He noted that the New Central Harbourfront Site 3 is a very strategic site.

"Design is one of the key considerations. Therefore, in considering the overall bid, we think the two-envelope approach which allows us to look at the design proposal and also the premium proposal, would be an appropriate way forward. We are not overly concerned about the premium amount.

"I think for residential, as well as commercial sites, of course they will fetch a premium for Hong Kong. In the case of site 3, its proper design and utilisation is actually very important to our future economic development, so money is not our only consideration."

Mr Wong added that he was confident in reaching the private housing land supply target.