PPP KINGDOM

PPP KINGDOM

A CHINESE TYCOON IS BUYING A HUGE AMOUNT OF LAND IN ICELAND

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Huang Nubo, a Chinese real estate tycoon, is buying a huge 300 square kilometers (115 square miles) of land in north-east Iceland, reports FT.

 

The purchase of the land, a rural area known as Grímsstadir á Fjöllum, has worried a number of people who wonder why such a huge amount of land — 0.3 percent of Iceland’s total — is needed for Nubo’s plans for a hotel and golf course.

Iceland

Iceland has a unique strategic position between the United States and Europe that some worry may be an ulterior motive for the purchase.

http://www.businessinsider.com/huang-nubo-iceland-2011-8

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FINANCIAL WARRIOR

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