(Ricoh GX200) Property Hegemony is a hot issue in the city. It refers to the near or actual cartel comprising the local tycoons in the property market. A worthy read on the topic is a book titled Land and the Ruling Class in Hong Kong by Alice Poon, a former assistant to a local property tycoon, who wrote it after she migrated to Canada. The book won the Canadian Book Review Annual a few years ago. Property hegemony is not an illusionary thing. Alice has given her readers lots of data to justify the debate. For example, in 2010, the six richest local clans who are all property developers controlled 14.7% of the Hong Kong stock market value. This gives a glimpse into the result of the fact that while from 1991 to 1994, 70% of Hong Kong’s private property were built by seven property developers, 55% out of this amount was developed by four of the seven developers. Today, most major property sites are owned by the biggest three to four among th...