1. The "Land Rights Code" of the Peak Area in Hong Kong 2. Institutional Perspective of the "Additional Approval and Price Compensation" Mechanism 3. The Property Rights Puzzle and Architectural Blueprint of Jack Ma's Luxury Home 4. Capital Undercurrents Behind Super Luxury Homes Conclusion: Institutional Balance in the Capital Gravity Field 1. The "Land Rights Code" of the Peak Area in Hong Kong There is a saying in the real estate industry in Hong Kong: "The bosses live in Mid-Levels and the dynasties are hidden in the Peak." Located on the Peak in Hong Kong Island, Barker Road is a