This chapter explains (a) that a set of lease conditions with its own lot map is a town’s bona fide site or lot plan and (b) that as the rights to carry out this plan are purchased by individuals in a voluntary open market, the leasehold system is one of planning by contract from the government’s point of view. This system is also one of development by contract from the point of view of the property rights purchaser, as stated in the lease terms, because s/he has an economic incentive to develop the lot as soon as possible to fully realize his/her property rights. The property rights conferred by this self-sufficient and sustainable system of public planning are attenuated by subsequent unilateral planning by government edict. The chapter also explains the harms of interventionist planning imposed on contractual planning and debunks the myths of the “adaptability,” “flexibility,” or “comprehensiveness” of planning by edict. The chapter also explains key planning boundaries in Hong Kong.