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Thread: Chinese Tycoon Seeks to Buy Tract of Iceland

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    Hundhedensk "Friend of Germanics"
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    Chinese Tycoon Seeks to Buy Tract of Iceland

    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....ft/index.html

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    Senior Member OnePercent's Avatar
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    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.

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    Senior Member Black Talon's Avatar
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    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.

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    Quote Originally Posted by Black Talon View Post
    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'?

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    Senior Member Black Talon's Avatar
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    Quote Originally Posted by wallflower View Post
    Did you mean 'lack thereof'?
    Well met ;-)

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    Senior Member The Aesthete's Avatar
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    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

    Our beauty is our power, our strength. We can’t allow them to change us, to lessen us. I will never grant them that satisfaction, and neither should you!

    White Oleander

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    Senior Member Sigyn's Avatar
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    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.

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    Quote Originally Posted by Frimodighet View Post
    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.

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    Senior Member Freja_se's Avatar
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    Quote Originally Posted by Hersir View Post
    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.

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    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.
    Most people think as they are trained to think, and most people make a majority.

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