Deal warming up to develop Iceland tourism property

After months of waiting, Chinese business tycoon Huang Nubo said he's close to finalizing a deal to rent land in Iceland to develop for tourism.

"The whole deal is reaching finalization today. I think the outcome won't be far from my expectations," said Huang, fully confident in the realization of his $200-million investment plan for 300 square kilometers of land in northeast Iceland.

In an exclusive interview at his office on Friday, Huang explained that if everything goes well during discussions on the deal at an Iceland cabinet meeting on Friday, Icelandic time, then the deal will be realized.