Tycoon Buys Shanghai Island in Dubai
A Chinese business tycoon with enough money to buy an island, bought an island…Shanghai Island, an artificial island in Dubai for $28 million.
The island is 40,000 square meters and is part of the "The World" development in Dubai, which comprises 300 islands made from reclaimed land in the shape of a world map.
The purchaser is a developer and director of the Shanghai Zhongzhou International Holding Group.
The buyer planst to spend another $200 million or so to build hotels and villas and make it a tourist resort.
He will also include canals and buildings to resemble Shanghai's Huangpu River, the Bund and the Lujiazui financial district.
Earlier this year, a Chinese businessmand bought an airport in north Germany for $133 million.
What would you buy if money were no obstacle?
Tags: 3980, 4237POSTED IN: All about China
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