Plans to Open Chinese Rental Land in Iceland to Public Skip to content

Plans to Open Chinese Rental Land in Iceland to Public

There are plans to open almost all of the land that Chinese investor Huang Nubo wants to rent at Grímsstaðir á Fjöllum in rural northeast Iceland for the public, as stated in his agreement with the municipalities in the region that intend to acquire 72.19 percent of the land and lease it to Huang’s company.


Grímsstaðir á Fjöllum in January 2012. Photo by Páll Stefánsson.

If realized, the public will be able to enjoy the area for outdoor recreation in addition to the land enjoying special protection, Fréttablaðið reports.

In the draft of the agreement it is stated that up to 99 percent of the piece of land that is for sale will become accessible to the public, said Þorvaldur Lúðvík Sigurjónsson, managing director of the Employment Development Association of Eyjafjörður, who is working on this issue on behalf of the municipalities along with the Employment Development Association of Þingeyingar.

The remaining one percent will serve as lots for the buildings that Huang intends to construct, Þorvaldur added. “With these actions, if realized, I can guarantee that the general public will have much more right to access the land than they have today.”

He pointed out that Grímsstaðir is currently private property. The approximate 25 percent of the land that is not for sale is in state ownership. “All other owners have the opportunity to sell the municipalities their share at the same price […] but they don’t have to,” he concluded.

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