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View Full Version : Chinese Tycoon Seeks to Buy Tract of Iceland



Hersir
Tuesday, August 30th, 2011, 10:50 PM
A Chinese tycoon plans to buy a vast tract of Icelandic land for a $100m tourism project which critics fear could give Beijing a strategic foothold in the North Atlantic.

Huang Nubo, a real estate investor and former Chinese government official, has struck a provisional deal to acquire 300 square kilometres of wilderness in north-east Iceland where he plans to build an eco-tourism resort and golf course.


Opponents have questioned why such a large amount of land -- equal to about 0.3 per cent of Iceland's total area -- is needed to build a hotel. They warned that the project could provide cover for China's geopolitical interests in the Atlantic island nation and Nato member.
While home to just 320,000 people, Iceland occupies a strategically important location between Europe and North America and has been touted as a potential hub for Asian cargo should climate change open Arctic waters to shipping.


The deal has been agreed with private landowners but must still be approved by the Icelandic government, which owns part of the land, which is known as Grímsstadir á Fjöllum.


Ögmundur Jónasson, the Icelandic interior minister, who would be responsible for the decision, signalled concern over the plan. "China has been very active in buying up land around the world so we need to be aware of the international ramifications," he told the Financial Times.
In addition to its proximity to potential deepwater ports, the land also includes one of Iceland's biggest glacial rivers.


Mr Huang, who previously worked at China's Central Propaganda Department and the Ministry of Construction, has sought to reassure Icelanders over his intentions by pledging to renounce all rights to water running through the land.


People familiar with the deal said that Mr Huang had agreed to pay almost IKr1bn ($8.8m) for the land and planned to invest IKr10bn-IKr20bn in the tourism project.


The Icelandic foreign ministry said it "welcomed foreign investment and strengthening of tourism," but cautioned that a thorough study would be needed before the project could go ahead. Reykjavik is keen for inward investment as it battles to recover from its 2008 banking crisis.
Mr Huang is ranked by Forbes as China's 161st richest man, with a net worth of $890m. His company, Zhongkun Group, owns resorts and tourist facilities across China. He describes himself as a poet and adventurer, having climbed Mount Everest and reached the north and south poles.
People close to him say his interest in Iceland is motivated by his love of nature rather than geopolitics.


Mr Huang has had ties with Iceland since sharing a room with an Icelandic student, Hjorleifur Sveinbjornsson, at Peking University during the 1970s. Mr Sveinbjornsson, whose wife is a former Icelandic foreign minister and Reykjavik mayor, is acting as Mr Huang's informal representative in Iceland.


China last year agreed a $500m currency swap deal with Iceland which was widely viewed as a sign of Beijing's desire to build links with Reykjavik. The two countries are already discussing co-operation on Arctic shipping as part of Beijing's broader interest in the potential to ship goods to Europe and the US east coast across the North Pole as Arctic ice recedes.


The land that Mr Huang intends to buy is in the vicinity of a deepwater port, although the land itself does not include any coastline, according to a person familiar with the deal.


http://edition.cnn.com/2011/BUSINESS/08/29/iceland.china.real.estate.ft/index.html

OnePercent
Wednesday, August 31st, 2011, 02:00 AM
China is buying up property all over the world at an alarming rate. Even when it is "private" citizens that are doing the buying they are usually just acting as proxies for the government. Considering the massive population problems they are facing it is likely they intend to use these purchases to build colonies.

Black Talon
Wednesday, August 31st, 2011, 02:48 AM
Brothers and sisters, I cannot tell you how much this article angered me.

I live in a city where rampant immigration of Asians from Hong Kong, gangsters and criminals all, have utterly destroyed our local economy. Since the world exposition was here in 1986 and they were encouraged to come here - by politicians who are traitors to my country - our real estate has gone off the scale because these greedy bastards buy up everything in sight. Now in a city which was once renowned for its diversity and good living is infested with gangsters driving 200,000 dollar cars and living in posh homes while many of the TRUE CANADIAN people here are largely unemployed and without hope.

I earnestly hope that the proud folk of Iceland will not allow this sale to become reality because if they do not protect their sacred lands they will soon be overrun and destroyed by a group of people who have absolutely no respect for the earth or their fellow human beings.

Hesse
Wednesday, August 31st, 2011, 03:14 AM
Now in a city which was once renowned for its diversity and good living is infested with gangsters driving 200,000 dollar cars and living in posh homes while many of the TRUE CANADIAN people here are largely unemployed and without hope.


Did you mean 'lack thereof'?

Black Talon
Wednesday, August 31st, 2011, 03:36 AM
Did you mean 'lack thereof'?

Well met ;-)

The Aesthete
Wednesday, August 31st, 2011, 12:33 PM
They are buying up large parts of my country including prime farmland; they are a major factor driving up property prices in my city.

In a small country like Iceland it is sheer madness

:~(

Sigyn
Wednesday, August 31st, 2011, 12:59 PM
The idea of a country buying large tracts of another country is pretty disturbing, in this modern age.

China is probably the worst offender, they're doing this all over the place. Greece also planned on selling the Aegean islands to Germany, but fortunately that never happened.

Hersir
Wednesday, August 31st, 2011, 03:11 PM
The idea of a country buying large tracts of another country is pretty disturbing, in this modern age.

China is probably the worst offender, they're doing this all over the place. Greece also planned on selling the Aegean islands to Germany, but fortunately that never happened.

Many western countries are doing this in Africa too. I think we should leave them alone, don't send them food, medicine etc.

Freja_se
Wednesday, August 31st, 2011, 05:10 PM
I think we should leave them alone, don't send them food, medicine etc.

Africans want to have the cake and eat it too. They demand Western aid when they breed uncontrollably, and at the same time they rape and slaughter white people who have farms there that produce food.

If they want whites out of Africa, oppress them, steal their farms and take their lives they shouldn't call on whites to help them when it suits them.

Blacks absolutely hate white people but they still expect whites to get them out of their own mess.

Huginn ok Muninn
Wednesday, August 31st, 2011, 05:18 PM
A truly nationalistic nation would refuse to sell land to non-citizens, and would refuse citizenship to any outside their own ethnicity or meta-ethnicity.

OnePercent
Thursday, September 1st, 2011, 02:20 AM
Here in the US we have many supposedly "free-market" conservative politicans (such as presidential candidate Rick Perry) who are bending over backwards to allow Chinese STATE-OWNED business to by mineral rich land here in the US for pennies on the dollar. In a sane world this would be called TREASON. Even in an insane but truly capitalist country this would be called criminal conspiracy. Since when are we allowing businesses owned by foreign governments to get special deals buying American land so they can compete directly with privately owned domestic businesses? I thought in a capitalistic society businesses weren't supposed to be owned by the state? Yet people like Rick Perry are touted by the mainstream media as true conservatives. This is a travesty. I hope I am wrong, but I have a bad feeling much of the modern US is going to be under Chinese control by the end of this century, as our corrupt politicians are selling it to them one piece at a time and being praised for doing so.

Primus
Thursday, September 1st, 2011, 02:25 AM
The chinks, well the Chicoms, are going to be a long-term menace. I'm a supporter of Taiwan btw. :)

The PRC is thinking in the long-term; Chinese aren't stupid and they're planning for the long-term: a war with the U.S., Russia, etc.

Is this Icelandic land going to be a tourist trap or, say, the land where a Sinic naval base is built? Iceland is midway between Europe and North America....

The one area where the PRC is bulking up is in its navy. Force projection and whatnot. The American Joint Chiefs might ignore the Chinese threat but several generals and admirals haven't been so bootlicking.

Black Talon
Thursday, September 1st, 2011, 04:26 AM
They are buying up large parts of my country including prime farmland; they are a major factor driving up property prices in my city.

In a small country like Iceland it is sheer madness

:~(

They have done it here where I live as well. In the late 80's they cam swarming in here and have destroyed the real estate market.

Ingvaeonic
Thursday, September 1st, 2011, 01:24 PM
Africans want to have the cake and eat it too. They demand Western aid when they breed uncontrollably, and at the same time they rape and slaughter white people who have farms there that produce food.

If they want whites out of Africa, oppress them, steal their farms and take their lives they shouldn't call on whites to help them when it suits them.

Blacks absolutely hate white people but they still expect whites to get them out of their own mess.

Blacks are incapable of feeding themselves, let alone governing themselves effectively. They can't farm properly, they are unable to work in industry without white supervision. Useless bastards and yet they demand to be supported by the white West and murder whites in Africa. They have a very over-developed sense of entitlement. No wonder they are universally despised.

On the original topic, I hope the Icelandic govt has the good sense to protect Iceland and reject the Chinese offer. It is very much the thin edge of the wedge.

Sigyn
Thursday, September 1st, 2011, 01:34 PM
Blacks are incapable of feeding themselves, let alone governing themselves effectively. They can't farm properly, they are unable to work in industry without white supervision.
Yes, I once saw a documentary about Zimbabwe. After they had expelled the white farmers, the black militiamen were given the farms. But they had no idea how to run a farm, they just thought that "being the boss" meant you could sit on the porch all day and take it easy. They had no idea that being a farmer involves supervising the workers and planning for the future. So the crops rotted, and now everyone is starving.

They're just not mentally developed enough for analytical work, I think.

Ingvaeonic
Thursday, September 1st, 2011, 02:06 PM
Quite right. The African blacks under the dictator and tyrant Mugabe have only succeeded in running Zimbabwe into the ground. It was a sad day that the Smith regime was overthrown in the former Rhodesia--and overthrown with the assistance of the West, I might add. Sheer idiocy!

Ćmeric
Thursday, September 1st, 2011, 02:24 PM
China is buying up property all over the world at an alarming rate. Even when it is "private" citizens that are doing the buying they are usually just acting as proxies for the government. Considering the massive population problems they are facing it is likely they intend to use these purchases to build colonies.
I suspect that Beijing's longterm plans are to claim extraterritorial rights over these large real estate purchases. Beijing wants revenge for the 19th century & the European concessions in China.


The chinks, well the Chicoms, are going to be a long-term menace. I'm a supporter of Taiwan btw. :)The Taiwanese are just as bad. Much of the western part of the San Gabriel Valley (Los Angeles County) is a Taiwanese colony.



Is this Icelandic land going to be a tourist trap or, say, the land where a Sinic naval base is built? Iceland is midway between Europe and North America....

Going back to my previous comment about Beijing wanting extraterritorial rights over foreign real estate holdings, the Iceland estate would be used to claim part of the Arctic seabed. Why else would China want to buy a significant part of Iceland?

Dropkick
Thursday, September 1st, 2011, 02:31 PM
This is what happens when you have free trade. The Chinese are in a great position having hundreds of millions of slaves to work for them and countries like China help drive down the standard of living in the West.

What we're also seeing nowadays (that gets little attention) are countries selling state owned businesses to wealthy, private individuals and those individuals then have a monopoly.

No doubt the people looking to buy part of Iceland are bribing the Icelandic politicians because thats how things operate at that level.

Auricomous
Monday, September 5th, 2011, 06:13 AM
China has bought TONS of land in Idaho here in the U.S... They are planning something, I can smell it