Bin Hu wants to paint "The World" red

According to this article, the Chinese businessman behind last week's purchase of ‘Shanghai' on Nakheel's The World, will bid to purchase every one of the six islands that represent China on the iconic project.

Bin Hu paid US$28m for the 322,000-sq ft island, which he intends to develop into a luxury development featuring an exclusive hotel and resort, and a series of palatial private villas. The other ‘China' islands are Macao, Beijing, Huainan, Nanjing, and Hong Kong.

Bin Hu marked the purchase event by planting a Chinese flag in the ground and scattering earth brought back from Shanghai over the island.

A few months ago, it was reported that Nakheel sold Greece for US$15.5m to an undisclosed buyer.