After waiting for nearly two years, the chairman of Beijing-based Zhongkun Investment Group, Huang Nubo, said he is looking forward to a breakthrough in April on his deal to buy land in Iceland, while admitting that he might abandon the deal by May if it stalls.

"There will be very likely a favorable turning point on the deal in April," Huang said on Tuesday, referring to his planned purchase of 300 sq km of land in the country.

But he said he isn't willing to wait indefinitely for an approval.