Chinese Billionaire Huang Nubo Wants to Buy a Piece of Iceland

A Chinese tycoon trying to buy a huge piece of land in Iceland, for eco-tourism project that includes a golf course and a potential port which connects Europe and North America.Nubo Huang, a real estate developer, with a fortune Forbes estimated at 900 million dollars in 2010, signed a preliminary agreement to acquire an area of 300 square kilometers of territory of Iceland, for 100 million dollars.

Chinese billionaire Huang Nubo Wants to Buy a Piece of Iceland (1)

Iceland occupies a strategic position between two continents and is seen as an important connection between marine trade in the case of climate change, notes the publication.Nubo Huang, who had a public department in China, plans to invest a huge sum in the area.

Iceland Review Online announced last week that Huang has signed several contracts with owners of Iceland, including local authorities, but the transaction must be approved by executives of the two states.Iceland is struggling to emerge from a recession that has plunged in 2008 after massive withdrawals from the local banking sector.

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