A large plot of private land in Norway’s Arctic Svalbard archipelago may soon be sold for about €300 million ($330 million), but the deal has raised concerns in Oslo over national security.
The property, known as Søre Fagerfjord, covers roughly 60 square kilometers (23 square miles) and is the last privately owned land in Svalbard.
A group of international and Norwegian investors has offered to buy the land, but officials in Norway worry it could give foreign powers a strategic foothold in a sensitive Arctic region.
The land is about 60 kilometers (37 miles) from the main town of Longyearbyen and has been in Norwegian hands for over a century. It was listed for sale last year, and the government quickly made it clear that any sale must be cleared in advance due to security laws.
The property, known as Søre Fagerfjord, covers roughly 60 square kilometers (23 square miles) and is the last privately owned land in Svalbard.
A group of international and Norwegian investors has offered to buy the land, but officials in Norway worry it could give foreign powers a strategic foothold in a sensitive Arctic region.
The land is about 60 kilometers (37 miles) from the main town of Longyearbyen and has been in Norwegian hands for over a century. It was listed for sale last year, and the government quickly made it clear that any sale must be cleared in advance due to security laws.
1 month ago
