(CFP)

Huang Nubo, Chairman of Zhongkun Group, a real estate company in China, has reportedly planned to buy 300 square km of property in Iceland for around $8.8 million.

Huang plans to invest some $100 million to develop a luxury hotel and eco-tourism resort project in Iceland if the deal goes through. Icelandic officials have welcomed the purchase but the Icelandic Government is currently evaluating the deal.

Huang ranked as China's 161st richest man in Forbes in 2010, with a net worth of $890 million. He graduated from Peking University in 1981, and worked in Chinese Government organs before entering the business world and establishing his own business empire. Huang is also a productive poet. He has published many collections of poems. His works have been translated into English, French, Japanese and Mongolian. He also likes adventures and has traveled to the North and South poles and climbed Mount Everest.