China tycoon looks to relaunch Iceland project

Chinese billionaire Huang Nubo is betting that a change in Iceland’s political landscape will allow him to pursue his property ambitions on the island, Bloomberg reported. “If we get a positive reply from the government, we can start the groundwork,” Huang’s Iceland-based spokesman Halldor Johannsson said. The coalition of Independence and Progressive parties that won elections in April has signaled it may ease limits on foreign land ownership that had stymied Huang’s earlier bids. Huang had planned to spend US$200 million on developing a resort and a mountain park through his company, Beijing Zhongkun Investment.