Mystery billionaire selling plot of land at ‘gates to the Arctic’ for $323 million

It's the size of Manhattan, but with way more ice
  • A 15,000 acre plot of land in the north of Norway is up for sale
  • It’s a once-in-a-lifetime opportunity to settle at the gates of the Arctic
  • China, the United States and Russia are said to be in competition to get their hands on this rare find

Published on May 14, 2024 at 6:25PM (UTC+4)

Last updated on May 14, 2024 at 6:40PM (UTC+4)

Edited by Tom Wood

If you’ve ever wanted to get a foot in the Arctic property market, now’s your chance.

An unknown billionaire is selling a plot of land in northern Norway the size of Manhattan.

It’s a once-in-a-lifetime opportunity to settle at the gates of the Arctic.

One lucky bidder will enjoy three miles of coastline, a front-row seat to all the natural beauty the region has to offer, and $323 million less in their bank account.

READ MORE: Dubai to build world’s largest beach complete with high-tech biodomes

Norway’s Svalbard archipelago consists of nine islands, and one is currently up for sale.

It’s the last privately owned property in the collection of islands and is currently open for bids.

The plot is 15,000 acres, which is roughly the same size as Guernsey – one of the Channel Islands near the UK – and half the size of San Francisco.

Possibilities would be endless for the potential buyer.

It could be turned into anything from a luxury resort to a community of doomsday bunkers.

Because of its location, there is predicted to be competition from the United States, Russia, and China to grab the land.

The sea ice here is rapidly melting, making it easier to exploit the area for natural resources like oil and gas.

But the seller would prefer that the buyer was a bit more eco-conscious.

“We are working hard to find the next custodians of this beautiful land, with the means to take action against the wider environmental factors at play, protecting the diverse flora and fauna that call these 14,800 acres of land home,” Will Matthews from Knight Frank LLP said.

“We are currently speaking with a collection of ultra-high-net-worth individuals from across the globe who each have a passion for conservation and philanthropy.”

If the price is too steep, you could always do what one group of friends did when they all chipped in to buy an island in Florida.

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