Overheard 3

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Ding.

The Chinese colloquial term for a male heir.

The Ding Grant.

The Hong Kong British government began to

develop the New Territories (NT) in 1972

Facing strong opposition

from the NT indigenous.

...residents the government

granted them a privilege.

Each NT Ding was permitted to

build Ding a house on premium-free land.

Up to 3 stories high, each

storey under 700 square feet.

You created a miracle, Uncle To.

The villagers were united.

I was just their spokesman.

No false modesty, Uncle To!

You accomplished a lot!

The Ding House Policy...

...has kept things stable for decades.

But things are different now

The number of Dings in the N has grown to more than 200,000 Dings.

Hong Kong (HK) is short of land.

If every Ding builds a house... Ding.

...it'd be a waste of land.

And it's unfair to other HK people.

So the Ding House Policy...

...has run its course.

You met with officials yesterday.

...and treat me to a drink today.

You must have good news.

The government will stop...

...authorizing Ding Houses...

...from next year onwards.

And in exchange?

We're allowed to...

...pool our rights...

...and put up 30-storey buildings...

...in the form of co-ops.

With each Ding Grant...

...you can build...

...one 1600-square-feet apartment.

In other words...

...a 1600-square-feet luxury flat.

So, over 100,000 Ding Grants...

...means over 100,000 luxury flats.

Congratulations!

Welcome to big-time property development.

Cheers.

But building a high-rise is harder than

putting up a Ding House.

Without financial support from you...

...a bumpkin like me...

would be helpless.

You're too kind!

What about the Legislative Council?

We'll return any surplus land...

...to the government...

without charge.

But...

what about the local property tycoons?

What would they say?

With you in the picture, Wan...

...they'll understand.

HK is happy.

We're happy.

Harmony prevails!

Right, harmony is paramount.

Cheers!

We've pooled more than 500 grants already.

With an official green

light, we can start works.

Mr Wan will have to.

...invest $720 million in our company.

We'll need the extra $200 million...

...because there'll be bribes to pay.

when we sell the flats.

...is a sensitive issue Ding high-rise.

No-one would agree to it,

if it isn't worth their while.

Keung.

Whatever your ways may be...

I don't know...

...and I don't care.

Uncle To and I are talking billions.

$200 million is chicken feed.

Mr Wan.

Is something else worrying you?

Today is Mid-Autumn Festival, cheers!

That brother of yours, Yuen.

Where is he tonight?

Well, he's been quite busy.

On the recently approved site

for Ding high-rise...

Yuen own the biggest piece of land.

He's been close with Szeto from

the Developers Association.

And Szeto represents

the 4 major property tycoons.

The Ding high-rises will devalue.

...the lands... Ding high-rises.

...they've been hoarding for years.

Their only hope of scuppering

the plan lies with Yuen.

We'll talk to him, don't worry!

Yuen!

You're welcome to eat here...

...but not talk here.

Come on, Yuen, we need to talk!

There's nothing to talk about!

I've heard that...

...he can be a bit difficult.

What's there to say?

We're brothers!

Calm down.

Let's talk...

Uncle To.

If Yuen's land goes to Szeto's hands...

If Szeto gets that land...

...not wanting trouble, the government...

will ask us to handle it peacefully.

In that case...

I'd be in no position to say anything.

We'd have to give the tycoons...

...parts of our Ding high-rise

project Ding high-rise.

That would take our company

back to square one...

working for the interests

of real estate tycoons!

As for you...

You'll be a nobody in HK

We didn't team up just to

return to the old ways.

Did we?

Let's put all that aside for now

Come...

...it's the Mid-Autumn Festival!

We should watch the fireworks!

Aren't fireworks illegal in HK?

Out here...

we make our own law!

Look!

You can only see this in the N It's more beautiful than

the display on Victoria Harbour.

Bringing eco-friendly

planning to the countryside!

HK's largest real-estate development.

Harmony, development, heritage.

NT Land Group will hold its IPO soon.

Apply now!

What is this NT Land IPO bullshit?

How come I've never heard of it?

Where did you find this sh*t?

That doesn't matter.

Press the button.

See how many shares we get!

Which button?

Don't bother.

None of us here...

will get a single share!

What? We're getting nothing?

What does that mean?

Now they're kicking down the ladder?

That's right.

Hang on.

It was the Luk clan who pitched us

the Ding high-rises.

If we haven't handed our Ding Grants

and land to you... Ding Grants.

...you wouldn't have this project!

Now you're listed on the stock market...

without consulting us.

And we don't even get one share?

You think we're stupid?

Not exactly.

We've given up the right

to build a Ding House.

What will my kids live on?

What about their kids?

Listen to me!

As Chuck just said...

...no one here gets a share...

...including us, the 4 Luk brothers!

You're kidding!

Shut your traps!

All of you!

We're f***ed anyway.

When we...

...sold our Ding Grants and land to

NT Land last year... Ding Grants.

we got paid, didn't we?

So what if they're listed now?

It has nothing to do with us.

And there's not a damn

thing we can do about it!

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