Tycoon buying piece of Iceland
By Yang Jian |
00:41 UTC+8 August 31, 2011
|
Print Edition
Print Edition
A Chinese real estate tycoon is buying 300 square kilometers of land in northeast Iceland for a tourism project.
Huang Nubo, the 55-year-old chairman of Beijing-based Zhongkun Investment, plans to buy the land for US$100 million and develop a hotel and golf course complex, according to the company. The development costs are not known.
A company spokesman said: "It is inconvenient to disclose the overall plan now and Huang will publicize more details himself in Beijing on Friday."
Huang is buying a rural area known as Grimsstadir a Fjollum. He awaits approval from the Icelandic government.
The tycoon ranked 114th on Forbes's 2009 list of the richest people on Chinese mainland, with personal assets worth 5.26 billion yuan (US$824 million).
Huang has developed tourism sites in the US, Japan, the Xinjiang Uygur Autonomous Region and other places across China.
Huang Nubo, the 55-year-old chairman of Beijing-based Zhongkun Investment, plans to buy the land for US$100 million and develop a hotel and golf course complex, according to the company. The development costs are not known.
A company spokesman said: "It is inconvenient to disclose the overall plan now and Huang will publicize more details himself in Beijing on Friday."
Huang is buying a rural area known as Grimsstadir a Fjollum. He awaits approval from the Icelandic government.
The tycoon ranked 114th on Forbes's 2009 list of the richest people on Chinese mainland, with personal assets worth 5.26 billion yuan (US$824 million).
Huang has developed tourism sites in the US, Japan, the Xinjiang Uygur Autonomous Region and other places across China.
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