Fancy a 'family ties' marriage, Mr Lee?

I used to joke that June 30, 1997, was the date when Hong Kong business people would acquire the world's biggest piece of real estate.

Perhaps it isn't a joke.

I learned recently about a youngish Hong Kong businessman by the name of Lee Ka-kit who is interested in investing in property on the mainland.

Nothing unusual about that.

Except Mr Lee, 32, has been picking up bits here and there, and now owns US$330 million worth of the stuff - that's equivalent to HK$2.54 billion, or the total annual earnings of 635,000 average Chinese city dwellers.

Mr Lee had a bit of help. His dad just happens to be Lee Shau-kee, the property tycoon who has overtaken Li Ka-shing on the 'umptillionaire' scale.