Chinese mogul to snap up Fota Island for €20m

The fourth richest man in China is on the brink of a €20m-plus deal to buy the prestigious Fota Island Golf and Hotel resort in Cork.

Chinese mogul to snap up Fota Island for €20m
Mon, 03 Dec, 2012 - 00:00
Tony Leen, Sports Editor

Documents are due to be signed this week between Nama, the receiver, and Beijing-based Reignwood Group for a sale of between €20m and €22m for the 500-acre resort.

The Chinese conglomerate has registered a trading company in Ireland, Fota Investment (Ireland) Ltd, in recent weeks.

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