Investment plan

Over the next 10 years, Reykjavík City will invest 220 billion in building a growing green city for people under the Green Deal, aiming for a better environment, economy, and society. The companies owned by the City will also increase their investments, especially in green infrastructure of utility companies and social housing for people with a low-income.

Efforts will focus on developing housing solutions for disabled people and the homeless, investing in new jobs for the unemployed, and support measures for people receiving financial assistance.

CityLine will be developed along with a comprehensive bicycle path system for the capital area in cooperation with the state and capital area municipalities. Reykjavík aims to become a world-class bicycle city by funding a new biking plan.

All services that can be moved online will be transformed in coming years through investment in IT and the City's digital transformation.

New schools will be built in Skerjafjörður, Vogabyggð, and Ártúnshöfði, and preschool spots will increase to accommodate 12-month-old children. The goal is for the new neighborhoods in Ártúnshöfði and Skerjafjörður to be the greenest ever built in Reykjavík.

Investments will be made in maintenance projects. Funding for renovating older school buildings will increase significantly, and the Reykjavík City Library in Grófarhús and the Reykjavík Art Museum in Hafnarhús will be renovated.

Streets in all neighborhoods will become greener with more vegetation, public parks will be beautified, the city's appearance will be more flowery, and forestry will increase with the planting of Reykjavík Climate Forests.

Public health, exercise, and sports participation will be strengthened with gymnastics halls in Breiðholt and Árbær, indoor soccer facilities in Vesturbær, and improved sports facilities throughout the city. Three new swimming pools are planned over 10 years: in Úlfarsárdalur, Fossvogur, and Elliðaárvogur. Laugardalslaug Pool will be completely renovated.

Rest areas and outdoor recreation infrastructure will be developed in Elliðaárdalur and Öskjuhlíð, and sea bathing facilities at selected coastal locations. A winter garden will be built in Breiðholt and the ski areas in Bláfjöll greatly improved. Outdoor recreation opportunities will be enhanced at Rauðavatn and Hólmsheiði, including riding trails.

Reykjavík City plans to invest in infrastructure where the next 10,000 apartments in Reykjavík will be built. These will be of all sizes and types, for all ages and income groups, mostly located near CityLine and vibrant business centers.

A green investment initiative is a key tool of the Green Deal to accelerate the city's development towards carbon neutrality. The focus is on investments meeting the criteria for financing with green and social bonds. The goal is to coordinate investments of City-owned companies with Reykjavík City's green investment initiative.