“The 15,000 acre plot is halfway between Norway and the North Pole. It lies at the heart of a pristine wilderness which has provoked debate over climate change and is the focus of geopolitical tensions among global powers who are eager to exploit the natural resources of the Arctic region.
“The last remaining privately owned land on the Svalbard archipelago in Norway, “with significant environmental, scientific and economic importance” is on sale, for €300 million.
“‘This is a once-in-a-lifetime opportunity to acquire land on one of the world-famous Svalbard islands,’ Will Matthews, Head of Farms & Estates at Knight Frank told Euronews Business.
“Global real estate consultancy Knight Frank, which is marketing the company holding 100% of the land, said that it is a “unique environmental, philanthropic and conservation opportunity.”
“The land has a strategic location and is of geopolitical interest
“The geopolitical competition in the region between the United States, Russia, and China is tangible, there have been increased military operations in the region by Russia. There has also been a rise in commercial shipping through the Arctic. The diminishing sea ice, which has been attributed to climate change, opens up the possibility for exploiting more natural resources including oil, gas, and mineral deposits in the Arctic.
“Svalbard has exceptional strategic importance because it is “essentially the gates to the Arctic,” reads the brochure noting that the place is ideal for controlling navigation and air traffic in the Arctic Ocean, for instance.
“Location, location, location
“Svalbard, between mainland Norway and the North Pole, is one of the world’s northernmost inhabited areas.
“Almost 3,000 people live on the nine main islands of Svalbard which has its own university (UNIS) and among other things is famous for the Svalbard Global Seed Vault.
“In the past, the area depended mainly on the coal industry, but these days research, satellite data downloading and tourism have also become important supplementary industries…”
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