Investors show potential interest in a 300 million euro property in Spiebergen.
The consortium of investors looking to bite into Svalbard's Sere-Fagernesfjord plot consists of a mix of Norwegians and international bigwigs. Eco-activist Birgit Liodden, a minority shareholder in the deal, asserts that these investors share a common goal of preserving the region's environment from potential disruptions.
According to reports from Bloomberg, countries with citizens among these investors include those that are part of NATO and have signed the Svalbard Treaty. That's a whopping 45 nations, such as Russia, China, and the US, albeit the identities of the investors' home countries remain undisclosed.
The Sere-Fagernesfjord plot, sprawling over 60 sq. km, found itself on the market back in May 2024, as per Bloomberg. However, by July of the same year, the Norwegian government put the brakes on the sale, citing national security concerns arising from escalating activity in the region by Russia and China. At this point, no discussions with the Norwegian government regarding the deal have taken place, according to Liodden.
With over 1,600 Norwegian citizens residing on the Longyearbyen archipelago, and around 200 Russian-speaking residents living permanently there, this region presents a unique demographic tapestry, as reported by Bloomberg. The plot of land in question has been under the ownership of Norwegian holding company Aktieselskabet Kulspids for over a century. Despite the sale being blocked, the plot is still listed for sale on the company's website.
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- The Sere-Fagernesfjord plot, originally put up for sale in May 2024, is still listed for sale on the Norwegian holding company Aktieselskabet Kulspids' website, despite the Norwegian government halting the sale due to national security concerns.
- Despite being a minority shareholder, eco-activist Birgit Liodden affirms that the consortium of investors, comprising Norwegians and international heavyweights, aim to preserve the environmental integrity of the Svalbard region.
- The consortium comprises investors from at least 45 nations, including NATO and Svalbard Treaty signatories like Russia, China, and the US, although the specific identities of these investors have yet to be disclosed.
- With over 1,600 Norwegian residents and around 200 Russian-speaking permanent residents in the Longyearbyen archipelago, the region offers a unique demographic mix, as reported by Bloomberg.
- The consortium is considering various investments, including real estate and commercial ventures, with the intention of increasing financing in Svalbard's business sector, according to unconfirmed sources in the business community.
