Located at the junction of Yau King Lane and Pokfulam Road, University Hill, Phase 2A of SHKP's Pak Shek Kok Estate, Tai Po, is close to the proposed Pak Shek Kok Station of the East Rail Line, which is a railway station concept.

The developer acquired the site in February 2019 for over $6.3 billion at a land premium of $6,646 per square foot, a ten-year high for the area and the third highest land premium ever in Pak Shek Kok.

The site area of the Yau King Lane project is 354,000 square feet, with a buildable floor area of 949,000 square feet.

The site received 10 bids at the close of tender in early 2019 and was eventually awarded to SHKP at a price of $6,309.38 million, beating nine consortia to the punch, at a premium of $6,646 per square foot, 29% higher than the second bid.

This is also 29% higher than the second bid. This is 72% higher than the $3.48 billion bid for the site at Kejin Road (now known as Cloudway) in 2015, which cost $3,864, or $2,782. After winning the tender, SHKP said that the estimated investment for the project was about $12 billion.

A review of the data shows that the two sites in Pak Shek Kok with the highest per-square-foot land premiums are the two sites acquired by Sino Land in 2009, namely Yat Long Bay I and II, with floor area premiums of $7,145 and $7,284 per square foot respectively.

With the opening of the planned East Rail Line station between Science Park and Pak Shek Kok in 2033, as announced in last year's Policy Address, the neighbouring University Hill will also benefit, making it more accessible to the public and giving many buyers a vote of confidence in the Pak Shek Kok property market. SHKP's development at Yau King Lane is divided into three phases, providing a total of 1,871 units.

The first batch of 116 units was announced in May last year at an average price of $17,370 per square foot. By the time sales commenced in June, a total of 565 units had been sold in just over a month, accounting for 98% of the total number of units in the development and generating over $4.6 billion in cash at a price of $24,000 per square foot.

Phase 2A of University Hill will soon be launched, comprising five residential towers offering 607 units with saleable areas ranging from 206 to 851 square feet, mainly two-bedroom units, accounting for more than 50% of the development.