In 1957, Sir Run Run Shaw made the decision to buy up a quiet spot in Northern Kowloon called Clearwater Bay.
He bought 46 acres of land from the Crown Government to build a studio. The land cost only 45 cents a square foot partly because of its proximity to the Chinese border where the communist threat was looming at that time.
Much of the land was dominated by a hill and Sir Run Run had to cut off 60 feet from the top of the hill and level it in order to build his studio.
Today, Clearwater Bay is a prestigious address for the Rich and Famous. Luxurious apartments there easily fetch HK$10,000 per square foot