Seeking an operator for Ferris wheel at Miðbakki this summer
The City is inviting proposals from parties interested in operating a Ferris wheel at Miðbakki this summer. Last summer’s similar project was a success, and the initiative stems from ongoing work around waterfront experiences and outdoor recreation.
A Ferris wheel was installed at Miðbakki during summer 2024 as a one-season pilot project. The project went well, and the City has now decided to seek an operator to run the Ferris wheel at Miðbakki in summer 2025. If a suitable proposal is received, the City will enter into an agreement with Associated Icelandic Ports sf. for use of the site at Miðbakki, with the option to extend the agreement through summer 2026. Any agreement made with an operator will be submitted to the City Executive Council for approval.
Noise concerns proved unfounded
The Ferris wheel is intended as an exciting addition to the city’s vibrant life and a playful continuation of major developments in the city center. There was strong interest in the project last year, which led to an agreement with Taylor’s Tivoli Iceland ehf., a company experienced in operating Ferris wheels and amusement parks at Miðbakki. The City ensured the equipment was suited to Icelandic conditions, including wind loads and ground vibrations. Special attention was given to keeping noise levels low, and concerns turned out to be unnecessary — the Ferris wheel was so quiet it didn’t register in measurements due to traffic noise from Geirsgata.
Interest in operating the Ferris wheel exceeded expectations, and it’s clear that with the stability of a long-term project, there would be no shortage of potential investors. Taylor’s Tivoli paid 3 million króna plus VAT to lease the site at Miðbakki last year, and the project generated a profit for the City. The City’s main expenses were relocating a skateboard ramp to Klambratún and commissioning engineering consultations to evaluate the Ferris wheel’s safety.
One of many ideas for enriching the waterfront
The project is part of the City’s broader planning work around waterfront experiences and outdoor recreation, which produced many proposals for improving quality of life and public health, outlined in a report released last fall. The benefits of green spaces are well known, and access to them has been shown to support people’s overall well-being. There’s growing interest in the benefits of access to water — or “blue spaces” — such as seas, rivers, waterfalls, and lakes. Living near water has been linked to better physical and mental health and greater overall well-being. Across Europe, blue spaces are increasingly recognized as valuable city assets for tourism, recreation, and healthy lifestyles. As a result, the City explored options for experiences and outdoor recreation along Reykjavík’s coastline, and the Ferris wheel was one of many ideas featured in the report.