Business, Finance & Economics

Iceland Real Estate

A remote corner of north-east Iceland is the setting for our Geo Quiz. This region of wilderness and farmland is located along the Jökulsá á Fjöllum. That's Iceland's second-longest river. And it looks out on the Arctic Ocean. That's why a Chinese millionaire businessman wants to build a luxury hotel and eco-resort there.

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Oh, and a golf course, too.His bid isn't going over so well. Many Icelanders are skeptical of any plan to sell wilderness land to a foreign investor. Others say its a curious setting for a round of golf since there's snow for all but 3 or 4 months of the year.

And did we mention it's cold?

The local weather station there holds Iceland's low-temperature record.

The answer is the region of Grímsstaðir (or Grimsstadir a Fjollum) in north-east Iceland. It's where a wealthy Chinese businessman hopes to build a luxury eco-resort. Anchor Marco Werman gets details about the controversial project from Thora Arnorsdottir, news editor at Icelandic National Broadcasting.

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