National Concert Hall - allocation of larger lot and sale of development rights

Þjóðarhöll ehf. has been allocated development rights to plot F within the lot at Engjavegur 8 in Reykjavík, with the City selling them the development rights for over 1.5 billion króna. In addition to payment for development rights, nearly 500 million króna will be paid in road construction fees.

This involves a land-use plan amendment where the lot is expanded from 30,260 square meters to 35,030 square meters. The land-use plan amendment addresses plans for building a national concert hall for indoor team handball and major events like concerts and shows.

The Laugardalshöll Arena lot is expanded to accommodate the National Concert Hall between Laugardalshöll Arena and the main path along Suðurlandsbraut. The lot expands south toward Suðurlandsbraut, reaching the path that runs north of the soccer training area between Suðurlandsbraut and Engjavegur. The lot permits construction of up to 19,000 square meters.

The lot allocation is based on an agreement between the Icelandic state and Reykjavík City made Jan. 10, 2024.

Key development for the future

The National Concert Hall will meet all requirements for international competition today. Design will begin on a new structure, a future development poised to increase the city and nation's international competitiveness. The heart of Icelandic sports will remain in Laugardalur, with greatly improved facilities for all users and the public, and shared use of existing structures.

Mayor Einar Þorsteinsson says this is an important milestone. "The National Concert Hall will greatly improve conditions for competitive sports and the children who train with Ármann and Þróttur. "We are all following the Icelandic national team's performance at the team handball World Championship in Zagreb with keen interest, and it is thrilling to consider that Iceland's application to host the competition here could succeed."

See documents in City Executive Council meeting minutes, case number 13.